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READNY! Cost Structure and Matching Grant Explanation
Cost Structure and Matching Grant Explanation
- PJ Library Cost Structure:
PJ Library subscriptions include 11 books and one music CD per year sent directly to a family’s home. The total cost of an annual subscription which includes all materials as well as overhead costs, mailing and supportive grants we offer every partner (to be further explained) is approximately $95. HGF underwrites the majority of the program, with PJ Library partners contributing a portion of subscription costs.
1) Nationally: The Harold Grinspoon Foundation underwrites the program down to $40. PJ Library partner organizations contribute $40 towards the cost of each subscription.
2) In the New York Metropolitan Region: The Steinhardt Foundation for Jewish life provides an additional grant of $14 per subscription, further reducing costs for PJ Library partners to $26 per subscription per year.
3) ReadNY!: Kehillot participating in ReadNY! will receive a matching grant to cover half of the $26 cost per subscription, or $13 per subscription per year up to a predetermined number of subscriptions per year.
- Program size / subscription goals:
In advance of launching the program, every PJ partner works with PJ Library to set a goal for the number of subscriptions it aims to fill over the course of its program. Subscription goals are based on the size and demographics of the community, as well as the financial and internal capacities of the organization. PJ Library provides a program budget to help project costs for the number of subscriptions offered over five years.
1) Grant Size
The size of the matching grant each participating kehilla receives will be determined by subscription goals set at the beginning of the process.
- a. Minimum: To be eligible for matching funds, a kehilla needs to
- i. have the capacity to make a minimum of 100 subscriptions per year available (100 subscriptions receive a matching grant of up to $1300 per year for five years); and
- ii. set a subscription goal of more than the number of families currently engaged.
- b. Maximum: The maximum number of subscriptions that can be matched by this grant is 600, when appropriate for the size and scope of the community. (600 subscriptions receive a matching grant of up to $7800 per year for five years).
- Setting Subscription Goals
The number of subscription costs that will be matched by the grant for the five year period will be set at the start of participation in ReadNY! and will remain flat for the duration. For this reason, it is worth setting ambitious goals.
Growing beyond your subscription goals is a great mark of success and HGF and USCJ will work closely with kehillot that reach and exceed their goals to seek additional funding. However, if your kehilla’s PJ Library program grows beyond the subscription goals established for ReadNY!, note that those subscriptions will be charged at the New York Metropolitan rate of $26 . Therefore we encourage setting goals ambitiously at the onset.
Every kehilla participating in ReadNY! will have a one-on-one discussion with HGF staff to determine the most suitable program size for its community. Submit the required information form prior to the startup meeting to ensure relevant information about your kehilla is collected and shared. Once subscription goals are formalized following the startup meeting, every kehilla will receive a program budget reflecting its subscription goal and matching grant.
In preparing to determine the correct subscription goal for your kehilla, consider the following:
1) Estimate the number of families the synagogue is currently touching and increase it by 25% to get a base number.
2) Goal ambitiously. As a 5-year program, the goals you set now will determine the amount of matching funds your kehilla will receive over the next 5 years.
- Kehilla portion of the match:
The following table breaks down ReadNY!’s annual cost-sharing to show how the kehilla’s portion of the match is derived. The column on the right calculates annual subscription costs for a sample program with an annual goal of 400 subscriptions.
* For all subscriptions within up to the annual subscription goals. Subscriptions above the set goal will be charged the full $26.
- Securing Matching Funds
To participating in ReadNY! and access the matching grant, kehillot need to have sufficient funds in hand or committed to cover the kehilla’s portion of subscription costs for a full year of the program (annual subscription goal x $13) by December 15th. Though these funds will not be paid in advance they need to be formally secured (pledged, procured, or allocated from a budget) by the deadline or prior:
1) First-come-first serve. Available funds for matching are limited. Matching grants will be allocated on a first-come first-serve basis, so it is to your kehilla’s advantage to begin fundraising early and announce funds as soon as they are secured.
2) Raising matching funds in advance. If you wish to begin fundraising early, note that subscription goals will be a floating variable until after the Startup Meeting on November 15th. You may contact Tamar Remz at firstname.lastname@example.org in advance to discuss potential goals and seek fundraising support.