Matching funds opportunity!! A member of Ascension has generously offered to match Capital Fund Drive pledges of $1,000 per year ($5,000 over 5 years), up to $50,000. Therefore, by pledging $5,000, you will effectively be contributing $10,000 toward paying off the building’s mortgage.
With exceptional clergy and staff, a sacred place to
worship, enlightening programs, and music that transports the listener to a contemplative place,
Ascension offers parishioners many ways to feel encircled by God. Financially, however, the parish
is in trouble. On September 24, Ascension Church launched a Capital Fund Drive.
Objective:
Pay off the building's mortgage, which accounts
for 40% of the church's pledge income in 2006. By eliminating the stranglehold of this debt,
we can devote our funds to a use more aligned with our ministry and the needs of parishioners.
Goal:
$1.2 million. Ascension Church has
received a generous foundation grant, as well as some leadership gifts from parishioners.
As a result, Ascension is more than halfway toward its goal already. The goal is
definitely achievable. For example, if 200 households contributed $500 per year for
5 years, Ascension would raise $500,000 - enough to burn the mortgage.
Timeline:
5 years. The foundation grant
money will be awarded to Ascension over a period of 5 years, and we are asking
parishioners to make a pledge over a period of 5 years. A balloon payment on
the mortgage is due in 2007. Ascension will leverage a schedule of pledges and
grant payments to refinance the debt mid-year or earlier. Money received by that
time will allow Ascension to make a payment on the principal and reduce the
amount of the new mortgage. A successful Capital Fund Drive will allow
Ascension to pay off all of the debt by the end of the 5-year period.
Pledge Guidelines:
Return your pledge
form and survey to Ascension Church no later than October 29, 2006.
Any amount that you pledge
will help to eliminate the debt. For those who make an annual stewardship
pledge, we ask that you do not lower your annual stewardship pledge to contribute
to the Capital Fund Drive, because doing so will result in a greater operating
budget deficit for 2007. Those who do not make an annual stewardship pledge might
consider making a one-time gift to the Capital Campaign. A pledge is not a contract,
and it may be adjusted as your financial circumstances change.
