Your Support

The temple is fortunate to have members and friends who volunteer their time and energy to support our activities. While this physical support is critical, we also ask our members to consider providing financial support. Below is a guide to some of the more common ways to support MBT financially.

Pledge

The temple has an annual campaign to raise funds for its Operating Budget. This budget covers ministerial salaries, programs, utilities, maintenance, and other operational expenses. A portion of pledge contributions is also directed to the Buddhist Churches of America and district Buddhist organizations.

Pledge donations account for about 40 percent of the temple’s annual income. Unlike some temples that assess fixed dues, MBT relies on the generosity of members to determine their donation level. A suggested guideline is $450 per person; however, pledge donations of any amount are gratefully accepted. A minimum pledge of $300 entitles a member to vote on temple matters. If you have questions about the pledge, please email office@mbtchicago.org. If you are ready to make your pledge, visit our current Membership Pledge Drive page for detailed instructions.

Monthly Memorials

On the first Sunday of each month, the temple conducts a memorial service for those who passed away during that month, regardless of the year. Invitations are sent to families on record, and many respond with a donation. These funds contribute about 10 percent of the Operating Budget. Donations typically range from $25 to $100. If you wish to have a family member added to the monthly memorial list, please email office@mbtchicago.org.

Buddhist Holidays

The temple sends Holiday Service Invitations with donation requests for six major religious events. These holidays are:

• Hoonko (January)
• Hanamatsuri (April)
• Gotan-e (May)
• Obon (July)
• Fall Ohigan (September)
• Bodhi Day (December)

Members and friends are encouraged to donate on these holidays, even if they cannot attend the service. These contributions account for about 5 percent of the Operating Budget, with donations typically ranging from $25 to $50. Learn more about these holidays by visiting the Buddhist Holidays

Special Funds

Special Funds allow you to direct your donations toward specific areas of temple life:

• Eitaikyo: This essential fund supports the MBT Investment Fund, ensuring long-term
  financial stability for temple operations and the ongoing maintenance of its facilities for
  the benefit of our sangha and community.
• MBT Legacy Garden: Supports the maintenance and beautification of the temple’s
  serene Legacy Garden, which serves as a space for reflection and community
  gatherings.
• Nokotsudo: Ensures the upkeep of the temple’s columbarium, a sacred resting place for
  loved ones. Families with loved ones in the Nokotsudo are strongly encouraged to make
  an annual donation of $100 per urn to help maintain this cherished space.
• Dharma School: Supports educational programs and resources for the temple’s youth,
  fostering a foundation in Buddhist teachings.
• LGBTQIA+ Fund: Provides programming and resources to support LGBTQIA+
  members and allies, promoting inclusivity within the temple community.
• Rev. Kono Fund: Supports Buddhist education initiatives, focusing on ministerial
  training and development.

Beyond Cash Donations: Unique Ways to Support the Temple

Please note: Regarding the tax treatment of any charitable donation, seek the advice of a tax professional first. Individuals will have different circumstances that only a tax professional can clarify. MBT is sharing generic, publicly available information but is not providing tax advice.

Support Through Required Minimum Distributions (RMDs) and Qualified Charitable Distributions (QCDs)

Individuals aged 70 ½ or older with IRA accounts can make Qualified Charitable Distributions(QCDs) directly to the temple. QCDs are excluded from taxable income, offering a tax-efficient way to give, and may also be used to satisfy your Required Minimum Distribution (RMD) once you reach age 73. If you’re interested in supporting the temple through an RMD, consult your financial advisor for details.

The following article provides helpful information about the RMD process.

Leaving a Legacy: Planned Giving

Planned giving allows individuals to make meaningful contributions to the temple through estate planning while preserving financial stability during their lifetime. Examples include bequests in wills or trusts, charitable gift annuities, or naming the temple as a beneficiary of a retirement account, life insurance policy, or investment account.

Including the temple in your estate planning supports its mission and leaves a lasting legacy. If you’re considering a planned gift, consult your legal or financial advisor and notify the temple so we can honor your generosity. For more information, please email office@mbtchicago.org or visit our Planned Giving web page.

Making an Impact with Stock Gifts

Donating appreciated stocks or securities is another tax-efficient way to support the temple. By donating long-term appreciated stock directly to the temple, you may avoid paying capital gains taxes on the stock’s increased value. Additionally, you may claim a charitable deduction for the stock’s full market value, provided you’ve held it for more than one year.

The process is straightforward: stocks are transferred directly to the temple’s brokerage account. This method maximizes your donation’s impact and provides significant tax savings. Consult your financial advisor or tax professional to learn more, and email office@mbtchicago.org for assistance with a stock gift transfer.

Updated January 2025