Profit and Loss Report INCOME ACTUAL

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Shanon Neal
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2016-2017 Profit and Loss Report The two pie charts below illustrate the actual income and expenses by major categories for last year.

School income is a smaller percentage than school expenses because the salaries related to school are included in the salaries expense, not the school expense.

1 Profit and Loss Report The two pie charts below illustrate the actual income and expenses by major categories for last year. What is most noticeable is the dominance of Dues for income (65%) and Salaries & Benefits for expenses (6). School income is a smaller percentage than school expenses because the salaries related to school are included in the salaries expense, not the school expense. See the School section for more in-depth detail. Likewise, Program expenses do not include staff nor the Rabbi s time INCOME ACTUAL Fees Rental 5% Fees School Fees Other Grants Deficit Other 0% Unrestricted Donations Fund Transfers Dues 65%

2016 17 EXPENSES ACTUAL Programs 5% Professional Services 2% Entertainment & Travel Other 0% School 4% Oneg Building 15% Charitable Contributions 0% Conferences URJ Dues 4% Gifts Office Expenses 5%

Traditionally we have used the more common term for this report, a Profit and Loss Report usually referred to as the P&L Report.

2 EXPENSES ACTUAL Programs 5% Professional Services 2% Entertainment & Travel Other 0% School 4% Oneg Building 15% Charitable Contributions 0% Conferences URJ Dues 4% Gifts Office Expenses 5% Salaries & Benefits 6 The statement of financial activities shows a nonprofit organization s income and expenses for a specific period of time. The net result is either a surplus or deficit. Traditionally we have used the more common term for this report, a Profit and Loss Report usually referred to as the P&L Report. The income portion of the P&L report lists all income received during a specific time period. It also indicates Cost of Goods Sold. For Bet Ha'am, Cost of Goods Sold refers to the Judaica shop inventory. Gross Profit is total income minus the expense for any inventory purchased for the Judaica shop. The profit & loss (P&L) statement for the last fiscal year (FY17) is displayed at the end of this section. Our fiscal year begins on July 1 st and ends on June 30 th. The top section of the statement shows the income received and the bottom section shows the expenses. On the far left side are row numbers. The first column of numbers, after the categories, shows the current year amounts, the second column shows the amounts spent last year, the third column shows what was budgeted for the full year, the fourth column shows the dollar difference between last year and this year, and the final column shows this difference as a percentage. The numbers to the right are for items needing additional explanation, and are summarized under NOTES after the P&L Statement. The mortgage principal and mortgage interest expense associated with our new building and capital campaign pledge income are not included in Bet Ha am s P&L because these are not a part of the day-to-day operations. The debt service on our mortgage (currently $80,000 per year) is only paid from capital campaign pledge income. Please see the Mortgage section. Also, the Rabbi s Discretionary Fund and Bikur items are not included (each has its own checking account and is not a part of the day-to-day operations). The bottom line for last year (line 172) shows a deficit of $3,927, verses a budgeted deficit of $23,272. The next few sections will describe the profit and loss statement. I will explain most major items.

3 INCOME Unrestricted Donations (lines 9-19) are donations used during the course of the year. We slightly exceeded the budget. Lines are Restricted Donations funds used for a specific purpose. This section is not a part of the P&L, but instead is shown after the Net Ordinary Income line. These donations may or may not be used in the year in which they are given, so neither the income nor expense of these funds is included in the P&L. If there is an expense during the year that is funded by one of these restricted funds, then the income from the fund will be shown in Fund Transfers (lines 20-36) and the expense will be shown under the appropriate expense line. Dues (line 38) is what was actually received (not billed). We were about $13,500 below budget but close to last year. Dues will be discussed more in the dues section of this report. Fees (lines 39-49) are our programs. They were close to budget, except Rental Income which is growing nicely. Judaica Shop (line 50) is reduced by Judaica Shop Purchases (line 55) to derive the net, which was less than budgeted. Grants (line 51) includes the money we receive from the JCA for our religious school (around $15,000), plus family foundation grants. Interest income (line 52) is the interest we receive on our savings. EXPENSES School Expenses (lines 58-76) is what the school spends on supplies, books, gifts and similar items. It does not include salaries or use of the space. The DC Trip and Retreat were mostly paid by grants and therefore not budgeted (income shown on line 31). Sporty (line 77) is the youth program. Oneg expenses (line 78) occur when there is no sponsor for the Oneg. Books (line 81) is for any non-school book expenses, such as the library or Scholar-In-Residence program. This is often offset by restricted funds or fees. The Building expenses (lines 82-95) were close to budget but lower than last year due primarily to an decrease in maintenance (it was deferred due to lack of staff time). Charitable Contributions (line 96) are donations to organizations with which we have a close relationship, such as Hillel, Levey BBQ, and the Maine Jewish Film Festival. Some of these donations come from the school Tzedakah. Conferences (lines ) allow the Rabbi to attend conferences related to his studies and job enhancement. Subscriptions & Dues (line 103) is our payments to the URJ which is based on 4% of the previous years income. Gifts (lines ) include our annual donation to Bikur (the Jewish chaplain) and Scholarships, which helps members attend programs/events ( Scholarships are mostly covered by restricted donations). Office expenses (lines ) were on budget. Salaries and Benefits (lines ) were also close to budget. Professional Services (lines ) primarily covers the audit (line 148). Marketing is new and helps get us rentals. Programs (lines ) were a bit higher as we added some programs during the year, however these additional expenses were either covered by Strategic Initiative transfers (line 21) or fundraising income (line 10). Entertainment & Travel (lines ) is mostly for the Seder and is covered by fees (line 42). One item not included is the projected cost associated with a future rabbinic sabbatical. We should be saving money each year if we wish to engage the services of a substitute rabbi during any future sabbatical (like we did with Rabbi Soffin during Rabbi Goldfinger s sabbatical). However, given the deficit we are projected to incur, it would not make sense to set money aside now and have a larger deficit. Using this approach, the amount that should be set aside each year would be around $7,500. There are models employed by other congregations that rely upon volunteer leadership for the day-to-day and week-to-week duties and upon other area colleagues (rabbis and cantors) for life-cycle coverage. This is what we will be doing during Rabbi Saks sabbatical next spring. Taking Total Expenses (line 170) away from Gross Profit (line 56) results in a deficit of $3,927 (line 171). It is important to note that dues income was 65% of the total income (fees 13%, unrestricted donations, grants ), and salaries and benefits were 6 of the expenses (building 15%, %, office 5%, URJ dues 4%).

4 A B C D E F G H I J K L 9/26/2017 July 1, 2016 through June 30, 2017 Jul 1- Jun 30, '17 Jul 1- Jun 30, '16 Jul '16 - Jun '17 Y-T-D $ Diff Actual YTD PROJECTED Ordinary Income/Expense This FY Last FY BUDGET vs. Last FYTD vs. Last FYTD This FY Income Income Unrestricted Donations Fundraising event 4, , , , % 2, th , (19,307.20) 0.00% General 16, , , (3,557.30) 82.12% 16, Memorial Booklet 1, , , (641.96) , Oneg/Misc n/a Annual Fund 14, , , % 14, School Library n/a School Donations % Programming Income 1, , , (288.27) 78.92% Total Unrestricted Donations 38, , , (21,517.75) 64.44% 36, Fund Transfers Strategic Initiatives - from CCII 11, , , , % 10, Bernstein Transfer 4, , , n/a 4, Class Gift - Furniture , (2,273.90) 0.00% 0.00 Cohen Fund Transfer (290.00) 0.00% 0.00 Goldfinger Fund for Israel Travel (710.00) 0.00% 0.00 Sandmel, Discretion & Youth 2, , (1,550.00) 56.34% 2, Garden Donations Transfer , (1,983.62) Adult Library Fund Transfer n/a 0.00 Other Transfer (MJFF - FY'15)) , (1,500.00) 0.00% 0.00 Prayer Book Fund Transfer n/a School Grant Transfer 13, , , , , Strategic Planning Transfer 3, , n/a 2, Rabbi Discretion Transfer n/a Tutor n/a Sporty Transfer (72.22) 0.00% 0.00 Total Fund Transfers 35, , , , % 33, Business Directory fees n/a Dues (actual) 346, , , (708.48) 99.80% 345, Fees Shalom Yeladim Rental income 27, , , , , Seder 2, , , % 2, School dinners 4, , , (43.83) , School Fees 29, , , (6,953.25) 80.75% 29, Class / program fees (293.00) Reimbursed Purchases 2, , , (827.91) 75.44% 2, Health Insurance Co-pay , , (3,350.32) 1.90% Teen Trip 4, , , % 4, Total Fees 72, , , (4,722.54) 93.85% 69, Judaica Shop (net for budget) 2, , (280.09) 88.22% 2, Grants - Unrestricted 34, , , (14,349.64) , Interest Income % Investment Income/Dividends n/a 0.00 Total Income ( Ex. Restricted Donations) 530, , , (31,679.00) 94.36% 521, Judaica Shop Purchases 1, % 1, Gross Profit 528, , , (32,309.46) 94.24% 519, Expense School Expenses DC Trip FY17 / NYC Trip FY16 15, , , , % 15, Retreat 2, , , % 2, Boston Trip n/a 0.00 School - Other Grant Covered , (1,939.75) Artist-In-Residence n/a Yachdav n/a Education , n/a High School Dinners 2, , , % 1, Teacher Appreciation , (776.07) 39.52% Furniture n/a School Books 1, , , (417.72) 81.03% 2, School Postage (176.21) 0.00% School Supplies 1, , , % 1, School Computer (716.98) 0.00% School Reimbursed Books n/a 0.00 School Tutoring (135.00) 0.00% 0.00 School Youth Expense n/a 0.00 Total School Expenses 23, , , , % 24, Sporty % Oneg 2, , , , % 3, Laundry 1, , % 1, Gift of Israel n/a Books , (2,144.28) 0.00% Building Maintenance 12, , , (11,323.94) 53.18% 15, Page 1 of 3

5 A B C D E F G H I J K L Jul 1- Jun 30, '17 Jul 1- Jun 30, '16 Jul '16 - Jun '17 Y-T-D $ Diff Actual YTD PROJECTED Ordinary Income/Expense This FY Last FY BUDGET vs. Last FYTD vs. Last FYTD This FY Furniture , (2,273.90) 0.00% Facility Rental Expense 1, , (6,511.81) 22.64% 2, & Licensing & Inspections , (75.00) 76.19% Trash Removal 3, , , % 3, Plowing & Lawn Care 15, , , , % 15, Garden & Outdoor Maintenance 5, , , (998.58) 84.90% 4, a Building Insurance 10, , , (255.00) 97.62% 10, Alarm System 1, , , (418.94) 76.20% 1, Elevator , % 1, Sprinkler Inspection 1, , (767.48) 58.34% 1, Utilities 25, , , , , Total Building 79, , , (17,020.69) , Charitable Contributions 1, , , (1,473.78) 42.96% Conferences Conferences - Other n/a Rabbi Conference exp 3, , , % 3, Religious School conference exp (492.20) 0.00% Biennial n/a 0.00 Total Conferences 3, , , (283.15) 92.42% 3, Subscriptions & Dues 22, , , % 22, URJ Gifts Bikur 1, , , % 1, Other Gifts (124.14) 53.15% Shabbat Cups (437.00) 55.54% Scholarships 2, , (2,925.00) , Flowers (39.96) 0.00% 0.00 Total Gifts 3, , , (3,526.10) , Bank Service Charges % Office Expenses Committee Supplies 1, , , % 1, Committee Computer n/a 0.00 Committee Printing (172.38) 17.56% Committee Postage (58.06) 0.00% 0.00 Misc (18.00) 0.00% Computer 4, , , , % 4, Computer Tech Upgrades % Software 4, , , % 4, a Copying 1, , , (1,650.16) 51.34% 2, Postage 2, , , (859.17) 71.05% 2, Printing , , (806.62) 54.73% 1, Supplies 2, , , % 2, Telephone 5, , , , % 5, Cable - TWC computer 2, , , % 3, Credit Card Expenses 1, , , % 1, Total Office Expenses 28, , , , % 29, Salaries & Benefits Insurance Health Copay Repay , (2,702.53) 0.00% Dental 1, , (2,383.86) 35.65% 1, Disability n/a Life % Medical 14, , , (16,071.46) 47.39% 15, Self Insurance n/a Worker's comp 1, , , (1,163.74) 62.20% 2, Total Insurance 18, , , (22,321.59) 45.35% 19, Payroll Salaries 271, , , , % 271, Payroll Fees 2, , , , Payroll Taxes 12, , , (208.56) 98.34% 12, Pension 18, , , (7,780.72) 70.62% 19, Total Payroll 305, , , , % 305, Total Salaries & Benefits 323, , , (15,471.53) 95.44% 324, Professional Services Staffing 2, , , % 2, Accounting 5, , , n/a 5, Religious School Search , n/a 1, Other Services (450.00) 0.00% Tutoring n/a Marketing , , (2,134.00) 21.89% Strategic Planning (from fund) n/a 0.00 Total Professional Services 9, , , , % 10, Programs Programs - Other 14, , , , % 5, Babysitting expense n/a 0.00 Gala , (8,377.25) 0.00% 0.00 Family Pizza , (480.05) , High Holidays & Holiday Celebrate 5, , , , % 5, Lectures/Concerts (536.70) 0.00% 0.00 Worship Services n/a Page 2 of 3

6 A B C D E F G H I J K L Jul 1- Jun 30, '17 Jul 1- Jun 30, '16 Jul '16 - Jun '17 Y-T-D $ Diff Actual YTD PROJECTED Ordinary Income/Expense This FY Last FY BUDGET vs. Last FYTD vs. Last FYTD This FY SIR 6, , , , % 7, Total Programs 26, , , , % 19, Entertainment & Travel Meals 4, , , , % 4, Mileage/travel 1, , % Lodging n/a 0.00 Total Entertainment & Travel 6, , , , % 5, Total Expense 532, , , (19,880.45) 96.40% 529, Net Ordinary Income (3,927.49) 8, (23,272.41) (12,429.01) % (9,423.20) Restricted Donations Adult Library Bernstein 1, % Cohen (18.00) Open Door (144.00) 40.98% Sandmel 1, , (14.00) 98.78% Prayer Book Fund n/a Tutor n/a Youth (102.00) 0.00% Class Gift (B'nai Mitzvah) 1, , (2,314.00) 41.42% Goldfinger Fund for Israel Travel (80.95) Adult Learning n/a Garden Donations 1, , % High Holiday Food Drive 4, , (1,549.91) Lehman Fund n/a Endowments & Bequests , (1,054.00) 0.00% Interpreter Sub-Fund n/a Art in Residence (398.95) 31.69% Kitchen n/a Furniture Grant n/a MJFF 2 Year Grant n/a School Grant n/a Technology Grant n/a Total Restricted Donations 10, , (3,305.78) 75.69% Page 3 of 3

7 NOTES: 1 Fundraising Event: Clink bags & some books, events. 2 Programing Income: Family Pizza 3 Transfer lines: (see note 24) DC Trip (line 58): $4, from fees, $10, grant School - Other Grant Covered: SeaCoast Sledding. School Grant Transfer - Prior Years: paying back funds that were charged to the grant but should have been paid by the fees raised. 4 Dues: Last year: - final amount received was $346,595 vs. 360,000 budget. 5 Rental Income: offset by rental expense on line 85. Net = $25,439. Budget number is net. Expenses lag income. Doesn't include additional staff or trash. 6 Reimbursed Purchases: includes prayer books. 7 Judaica Shop: on a cash basis. 8 Grants: Based on our percentage of students of the total Hebrew School population, plus family foundations. 9 Gift of Israel: 3 way program; parents, Bet Ha'am, JCA. Each contributes $50/yr. for 10 years. Currently 8 students enrolled, 6 completed contributions. $2, in escrow, full liability $4,000 (8 * $500). Account s/b at $3,600 at this time. Historically, about 1/2 drop out of the program. 10 Garden & Outdoor Maint: mostly weeding. 11 Utilities: FY17 FY16 BUDGET % Year over Year CMP $12,547 $11,103 $14, % Water $1,586 $1,469 $2, % LP $9,962 $8,802 $19, % 12 Charitable Contributions: $180 Hillel, $250 MJFF, $500 Levey BBQ, $180 Friends of Israel Defense Fund. 13 Rabbi Conference Expense: $ rolled over from previous year. 14 Software: Cloud for Good annual fee $2,960 ($360/seat for 6 seats and $800/yr system), Mail Merge for Cloud $200/yr, Microsoft $18/mo, ConstantContact $40/mo. 15 Health Copay: Reimbursed for copays on new medical plan. 16 Medical: includes Dental in Budget number. 17 Salaries: 26 of 26 periods. (26 last year at this time). 18 Payroll: we do not accrue payroll - there is usually one or two extra days each year. There will be an extra payroll period every 12 years. 19 Staffing: $315 AED training. $665 Sparkling Clean. Background checks. Administrator advertising. 20 Marketing: Convention board, advertises rental availability. 21 Programs: Noah event paid by Strategic ($7,700). Casino Night, income $4,467, expense $3, High Holidays & Holiday Celebration: includes security. 23 Meals: board and other small items. Seder: income $2,744, expenses $3,042. Line 187: High Holiday Food Drive: cash donated for food banks. Only an information item. All money received will be donated, which will not show under expenses. All Restricted Donation items are NOT included in total income (lines ). If the donated monies are used in the operating budget the appropriate amount will be shown in the corresponding Transfer line under Donations.

Profit and Loss Report

2017-2018 Profit and Loss Report The two pie charts below illustrate the actual income and expenses by major categories for last year. What is most noticeable is the dominance of Dues for income (59%)