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ERUV is UP for August 23 - 24

Nearly 5 years ago the membership voted overwhelmingly to acquire our wonderful home.  Many members pitched in with time and hard-earned wealth.  Together, with Hashem's help, we created a place of our own to grow our special welcoming Torah community.  And, as we did so, we knowingly took on a challenging financial obligation.  The time has come to address that obligation.
 
Some context on the financials:  We acquired the property for a price of $4.5 million.  To pay for it we raised $1.3 million upfront, sold off part of the property for ~$1.4 million, and took a loan of $2 million.  We also raised an additional $1 million dollars, pledged over five years.  We used the pledges to pay the principal and interest payments for the last five years.

Those pledges ran out this year, and we currently owe ~$1.7 million dollars to the bank on the loan.  It is imperative that we raise enough money to pay off the loan, or at least collect enough in pledges to continue paying the mortgage payment over the next 5 years.

Over the last five years, we have accomplished a lot in our building.  We have celebrated so many simchas, held special events, built a playground, launched a Shabbat kids program, grown our Jewish learning opportunities, and added numerous security improvements.  And although our expenses have gone up, we have also grown the membership and the amount of money raised each year.  Membership is up ~7% over the last 5 years, and over 40 new families have joined the shul since we acquired the building.  The amount collected via dues is up 26% and the amount collected via fundraisers is over double the average amount over the last several years.  Our thriving community has contributed generously in time and dollars to keep our shul functioning well and growing. The building is a key foundation on which that growth was built. 

Rabbi Kornfeld, the Board, and I urge you to step up and contribute generously and enthusiastically to the Island Synagogue "Secure Our Future" capital campaign. 
 
Please begin now to consider what you and your family can do to keep us in our beloved home. This is the moment to come together and to give what you can. 
Pledges should be completed via the attached form and returned to the shul office.  You can either hand them in-person or scan or take a picture of the signed pledge form and send it by email to office@islandsynagogue.org.

The Pledge form can be seen by clicking here!
 

Please make your pledges by September 12, so that we can judge at the September 15 Annual Meeting whether we have secured enough funds to remain in our beautiful home. Please plan if possible to pay the upfront part of the pledge by the end of September 2019; however, if you need extra time, indicate this on the pledge form but still submit the form by September 12. Pledges for future years 2020-2023 are payable by September of each year.  We thank you for your promptness.

Please do not hesitate to contact me at ricknegrin@hotmail.com or by phone at 206-851-7774. I can answer any questions or concerns you have about the building, synagogue finances, or about the critical need to complete the building acquisition. Jon Newman can also answer questions - he can be reached at jonn_msft@hotmail.com or by phone at 425-681-3083.

B''H, we will enjoy simchot and chagim together in our beautiful home for many years to come!

Thank you,

Rick Negrin 
President Island Synagogue 

Look for the Talmud, Wednesday learning, and the Parsha with Lord Sacks to resume towards the end of the summer.  We hope you are all enjoying your summer with your friends and family.

Our hospitality committee is dedicated to creating a welcoming atmosphere for observant Jews visiting Island Synagogue.

We can arrange lodging and meals over Shabbat and holidays for singles, couples and families. We also provide information about where to find kosher food.
 

If you are visiting Western Washington, or would like simply to visit Island Synagogue for Shabbat or a holiday, please contact us at Hospitality and we will do our best to accommodate your needs and introduce you to our warm community.