The Rabbi David Lieb Endowment fund is an extraordinary example of what it means to be a blessing. Since its establishment in 2005, our leadership and community have made an incredible investment toward securing the future of our spiritual home. In addition, we provide exciting and gratifying enhancements beyond what a congregation of our size could normally afford. The Endowment Fund annually contributes a portion of the earnings to the temple’s operating budget, facilitating superior programming which would not be available without the endowment.
AN INVESTMENT IN TRADITION
With unprecedented commitment to building the resources to sustain our community for decades beyond our lifetime, the members of the Endowment Governing Board, Leadership Team, and Investment Committee are engaged in raising funds, managing assets, and allocating dollars for each phase of the Endowment Fund’s development. The results of this engagement and vision will allow us to affirm our long-standing Jewish presence in the South Bay, especially noteworthy as we build on more than 90 years of commitment to our members.
AN INVESTMENT IN VALUES
Beyond our leadership, the depth of caring of our membership leaves us in awe. Even throughout these uncertain economic times, our Temple Beth El congregants have been exceedingly generous. Since 2005, we have received contributions–both large and small–in cash and three- to five-year pledges totalling over $3,000,000. We also have an ever-growing number of members choosing to leave a legacy in their estate trusts and wills. These are all tangible affirmations of our values.
AN INVESTMENT IN OUR FUTURE
The investment in our future taking place through the Rabbi David Lieb Endowment Fund is driven by the increased involvement of nearly two hundred families who support our mission to bless future generations with a strong and vibrant home of Reform Judaism.
We are indeed blessed at Temple Beth El with a great heritage, great values, and great vision. Our sincere hope is that, with your help, our investment in building our endowment will remain an enduring blessing for this congregation, now and forever.
OUR SPENDING AND INVESTMENT POLICIES
The Rabbi David Lieb Endowment Fund’s Governing Board has adopted spending and investment policies that intend to provide a predictable stream of funding to programs for Temple Beth El.
To determine the level of allocations for the General Fund, the Investment Committee recommends to the Governing Board annually a spend rate percentage as it deems appropriate in order to maintain the long run stability of principal and income by taking into account last year’s account balances, earnings, inflation and historical spend rates.
Under the investment policy approved by the Endowment Governing Board, endowment assets are invested in a manner that, over time, should produce an annualized return of approximately five (5) to eight (8) percent over the long term. Actual returns in any given year may vary from this amount.
The investment returns more than the allocations provided to the Temple are reinvested and should increase the assets and preserve the spending power of the Endowment Fund. Returns are reviewed at least quarterly by the Investment Committee and are measured against a blended benchmark to closely match the Endowment investments.
STRATEGIES EMPLOYED FOR ACHIEVING OBJECTIVES
To satisfy our long-term objectives, the Endowment Governing Board relies on a “total return” strategy in which investment returns are achieved through both capital appreciation (realized and unrealized) and yield (interest and dividends). Fund assets will be managed as a balanced portfolio composed of two major components: an equity portion and a fixed income portion. The expected role of the Fund’s equity investments will be to maximize the long-term real growth of Portfolio assets, while the role of fixed income investments will be to generate current income, which is intended to provide for more stable periodic returns and provide some protection against a prolonged decline in the market value of the Portfolio. The goal of the balanced Portfolio is to reach our long-term objectives within prudent risk constraints.