North Suburban Synagogue Beth El
NSS Beth El Endowment & Specific Funds

NSS Beth El Endowment & Specific Funds

North Suburban Synagogue Beth El

NSSBE Operating Fund – To be used for all the operational needs and purposes of running a large congregation.

Capital Improvement Fund – To be used to help cover the cost of capital improvements to our building.

Chesed Dues – For the purpose of helping members in need of financial assistance with dues.

Kol Nidre Appeal – Unrestricted Funds solicited on Kol Nidre to help with NSS Beth El’s operational support.

Rabbi Kurtz’s Discretionary Fund – To be used at his discretion solely for eleemosynary or charitable purposes.

Rabbi Schwab’s Discrectionary Fund – To be used at his discretion solely for eleemosynary or charitable purposes.

Hazzan’s Discretionary Fund – To be used at his discretion solely for eleemosynary or charitable purposes.

Minyan Service Fund – For the purposes of supporting our twice daily minyan services we offer to our members and our community, 24/7/365.

Prayer Book Fund – For the purpose of the acquisition of or improvement to religious books of the congregation.

Jack and Mildred Cohen Religious School Fund – For the purpose of improvements or assistance to the Jack and Mildred Cohen Religious School, its facilities or programs.

Bernard H. Sokol Hebrew High School Fund – For the purposes of funding special programs beyond regular classes in our Sokol Hebrew High School.

Paul S. & Sylvia Steinberg Preschool Fund – For the purpose of improvements or assistance to the Paul S. and Syliva Steinberg Preschool, its facilities or programs.

Maxwell Abbell Library Fund – For the purpose of improvements or additions to the Maxwell Abell Library or its collection.

Pinsof Children’s Reading Room Fund – For the purpose of improvements or additions to the Pinsof Children’s Reading Room or its collection.

Isadore Finkelstein Fund – Used for the purpose of providing scholarships to children of members of the congregation toward one year of college or post-graduate study in Israel.

Ba’al Korei Institute Fund – Used to help cover the costs of all educational programs, fees and awards associated with the Ba’al Korei Institute.

Pushke/Tzedakah Fund – Pushke/Tzedaka Fund for the purpose of distribution of gifts to appropriate religious charitable causes.

Staff Recognition Fund – Is used at the discretion of the President to provide annual recognition bonuses to the administrative and maintenance staff.

North Suburban Synagogue Beth El Endowment Fund, Inc.

What is the purpose of the North Suburban Synagogue Beth El Endowment Fund, Inc. (the “Fund”)?

The Fund’s purpose is to support the religious, educational and social activities of North Suburban Synagogue Bel El (the “Synagogue”). It also supports the maintenance of the Synagogue’s facilities and provides funds for capital improvements. The Fund was established in 1984 as a tax-exempt organization under Section 501 (c) (3) of the Internal Revenue Code. Donor contributions are tax-deductible in the manner and to the extent provided in Section 170 of the Internal Revenue Code.

Who manages the Fund?

The Fund is managed by an independent Board of Directors. The Synagogue’s President, Treasurer and Senior Rabbi serve on the Board. The remainder of the Board is elected by the Board. The Board elects a President, Treasurer and Secretary from its membership. The Fund’s By-Laws do not provide for a fixed number of Directors or for a fixed term for any of its members except for the Synagogue’s President, Treasurer and Senior Rabbi.

What are the types of Endowment Funds?

The Fund consists of over seventy-five separate funds that have been established by past and present members of the Synagogue. The Donors describe the purpose for which the earnings are to be used. Funds can also be designated as Non-Restricted in which case the earnings are used to support the Synagogue’s total operating expenses.

What are the Investment Policies of the Fund?

The Fund’s assets, with the exception of a small checking account balance held at The Northern Trust Company, are held in custody at National Financial Services, LLC. Investment advice is provided to the Board of Directors by Mesirow Financial. Investments are made in equity-oriented mutual funds, balanced mutual funds and direct investment in certificates of deposit and corporate bonds. Equity investments include foreign and domestic securities.

How are the Funds distributed to the Synagogue?

At the end of its June 30th fiscal year, the Synagogue notifies the Fund as to the amounts expended for the purpose established for each individual fund. The following January the Fund pays the Synagogue the lesser of the amount expended by the Synagogue or the available earnings calculated by the Fund for each fund.

Each year the Board of Directors of the Fund establishes a percentage that will be applied to the average market value of each fund for the sixteen quarters ended September 30th of the year prior to June 30th fiscal year of the Synagogue. The total available is the amount arising from that calculation plus any amount carried forward from prior years as the result of the Synagogue’s expenditures being less than the available earnings.

Fertig Campus Visit Endowment Fund – Used for the visits of clergy and other senior staff to children of members on college campuses.

Lederman Continuing Education Endowment Fund – Supports all adult education programs including on-going classes as well as speakers, films and other presentations.

Gertrude Lederman Family Continuing Education Fund – To be used for all adult education programs, including on-going classes as well as special speakers, films, and other presentations.

Rabbi Irving and Amy Frankel Lecture Endowment Fund – Used for the annual special speakers program.

Irving and Janet Robbin Scholar-in-Residence Endowment Fund – Used for the annual weekend program featuring a renowned scholar of Jewish interest.

Joseph and Mae Gray Cultural and Learning Center Fund – Use for the purpose of enhancing the programs and collections of the Joseph and Mae Gray Cultural and Learning Center

Janger Family Havurot Fund

Music Endowment Fund – For the purpose of providing musical programming to the Congregation.

Social Action Fund – To be used to cover the cost of all social action opportunities, activities and projects of the Social Action Committee.

Ritual Refurbishment Endowment Fund – Used for the maintenance of Torahs and other ritual objects.

Holocaust Memorial Endowment Fund – Used to cover the costs of programs and materials related to the Holocaust.

Ann and Jack Weinberg Holocaust Education Endowment Fund – Used to cover the costs of programs and materials related to the Holocaust.

The Andrew and Gail Brown Technology Endowment Fund – An endowed fund whose income is dedicated to the acquisition of new technology for the synagogue.

Gamze House Beautification Fund – To be used for capital programs of the synagogue.

Camp Ramah – General Scholarship Fund – Used to fund scholarships to send children of members to the Camp Ramah Day Camp and to Camp Ramah of Wisconsin.

Willard and Sally Aaron Camp Ramah Endowment Fund – Used to fund scholarships to send children of members to the Camp Ramah Day Camp and to Camp Ramah of Wisconsin.

Jean T. & Morton Bernstein Camp Ramah Fund – Used to fund scholarships to send children of members to the Camp Ramah Day Camp and to Camp Ramah of Wisconsin.

Lippitz Family Camp Ramah Fund – Used to fund scholarships to send children of members to the Camp Ramah Day Camp and to Camp Ramah of Wisconsin.

Israel Scholarship, General Fund – Used to fund scholarships to send teens on peer-group trips to Israel.

Spitz Family/Ruth and Milton Liebman Israel Scholarship Fund – Used to fund scholarships to send teens on peer-group trips to Israel.

Judith A. Heyman Memorial Israel Scholarship Fund – Used to fund scholarships to send teens on peer-group trips to Israel.

Edward S. Frank Israel Study Memorial Fund – Used to fund scholarships to send teens on peer-group trips to Israel.

Sarah and Harry Stiebel Schechter Fund – Used to fund scholarships for children to attend the Solomon Schecter Day School and the Rochelle Zell Jewish High School.

Cal and Lana Eisenberg Halomdim Program Fund – Used for teachers and supplies for classes for special needs children.

Morris & Naomi Futorion Education Fund – To be used to help cover Jack and Mildred Cohen Religious School costs not covered by tuition.

Kopin Family Fund for Children’s Tefillot Education – Used to cover the costs of the Dalet and Hey Shabbat Service programs.

Gerald and Rita Buckman Yom Ha’Atzmaut Program Endowment Fund – Use for the Religious School and Synagogue programs specific to the holiday.

 

Steinberg Preschool Endowment Fund – Used to replace the Gan Sylvia playground structures.

Kurtz Youth Family Endowment Fund – Used to fund the cost of sending teens to conventions and the cost of youth program supplies.

Youth Community Program Fund – For the purpose of improvements or assistance to the youth community programs of the congregation.