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Questions & Answers about the Capital Campaign: Q Why is this campaign involving both the 2009 Operating Budget and mortgage retirement? A Both parts of the campaign are vital for our present and future. By combining them, we believe you can make better decisions and we will not have to focus on finances for a full year
Q How did we arrive at the present debt? A When the Center for Formation and Mission was built in 2004 we incurred a mortgage of $1.94 million. Our current debt is the remaining portion of that debt.
Q What are we trying to raise? A $200,000 – in additional Operating Pledges for 2009
A $1,500,000 – Mortgage retirement and any deferred maintenance
Q What are our current short and long-term debt obligations? A Mortgage: $1,114,000 plus interest amortized through 2015; there is a balloon payment of $812,000 due on June 30, 2015 which will require re-financing as we’re not able to set aside funds for this. We also have a line of credit balance of $168,000 on which we are making interest only payments. Our total current debt is $1,282,000.
Q When is our commitment to be made? A Commitment Weekend will be Saturday and Sunday, May 30th and 31st. Cards for both the capital and annual giving will be distributed at each of our Masses that weekend. If you are not present, one will be mailed to your home the following week.
Q How long is my commitment? A The financial commitment for Courage in Giving…Living in Faith is for three years. It can be paid weekly, monthly, quarterly, annually, lump sum or in any other way you wish to use. Your growth, however, as a Christian steward should continue throughout your life. We hope that Courage in Giving…Living in Faith an important phase of this spiritual journey The financial commitment for the Operating Pledge is for one year.
Q When do I begin paying my three-year commitment to Courage in Giving…Living in Faith? A We ask that you make your initial payment at the special First Fruits Masses beginning on Saturday June 13th or Sunday June 14th.
Q When do I begin paying my 2009 operating commitment? A Increasing your commitment amount NOW would be greatly appreciated, or even gradually throughout the year.
Q How will I know what to give?
A There is only one way to discern what your gift should be, prayer. Your decision must be between you and God. All we ask is that you open your heart to the possibilities He may offer. And, don’t be surprised at what you and God can dream about, together. So, ponder the gratitude you have for this life on earth, be open to the journey of prayer where He will reveal a vision of your help, and finally, continue to live in faith trusting where God will lead. |
