What’s Happening with the Capital Campaign?
I have been asked this question on several occasions so I thought it might be good to give everyone an update on our progress. Currently we have raised over $313,000 in pledges and have also been given a $150,000 life insurance policy. While those numbers are encouraging, they pale in the face of our current $1.3 million debt. Our goal for this campaign is to raise $1 million in pledges and gifts in kind. We are currently at 46% of that goal.
Our building is serving us well and is a wonderful place to worship. The construction allowed us to transform the previous sanctuary space into a much larger parish hall that can accommodate our congregational needs for liturgical and fellowship functions. Now that we have been in our new building for over 7 years, it is all too easy to think it is all paid for, but it is not.
John Ackerman, our treasurer is in the process of refinancing our current loan at an amazing rate of 3.89%. The loan will be amortized over a 20 year period, but has to be refinanced again in 7 years. The new, lower interest rate will save us about $80,000 over the life of this loan. Be sure to thank John for his hard work and the resulting savings.
To those of you who have pledged, Thank You! Your leadership in this important effort has helped us to build a strong foundation for the campaign. For those of you who have not yet pledged, please consider participating in this important effort. Reducing our debt will open the way for more ministry.
Hopefully, everyone has received a packet and pledge card in the mail last month. If you have misplaced your pledge card or would like more information about the campaign, please contact me or Johnna Reed (our information can be found on our CCB website.)
This building has been a blessing to our common ministry and mission. Please help us reduce the burden of debt so that we are able to accomplish our mission in the world unimpaired.
God’s blessings to you all!