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St. Matthew UMC
• We have seen why we need to make extensive repairs to our Sanctuary Building, Bell Tower and Covered Walkways.
• While we don’t have the exact cost of the repairs, the Finance Committee has set $2,000,000 as our maximum to be used for these repairs.
How Will We Raise the Funds Needed?
1) Our Faith, Our Family, Our Future - current Capital Campaign
2) Mortgage
3) Land Sale
4) Bridge the gap with a new Capital Campaign
1 2
4 3
Our Faith, Our Family, Our Future
Current Capital Campaign$349,760 pledged
$267,409 total received to date:$247,909 pledges received $19,500 unpledged
received
________________________________________
$369,260 total (pledges + unpledged donations)
1
Additional Mortgage$137,000 Current mortgage
$363,000 Additional mortgage
___________________________
$500,000 Total mortgage
Assuming interest rates remain at the current levels, debt service on the new mortgage should be approximately the same as current payments.
2
Land Sale
• Parcel at rear of Education Building – corner of Boxwood and Partridge Lane
• Approximately 2 acres
• Residential lots
3
Land Sale3
Land Sale
• The Trustees and Board of Stewards have approved the land sale.
• The congregation will vote on this at a Congregational Meeting.
• Prior to the Congregational Meeting, two additional meetings will be scheduled to answer questions from church members.
3
New Capital CampaignBridge the gap between land sale and actual cost
$369,260 Capital Campaign (pledges + unpledged
donations)$363,000 Mortgage $???,000 Land Sale$???,000 New Capital Campaign
_________________________________________ $2,000,000 Funds to be used for repairs
4
Next Meetings
Two meetings are scheduled for the congregation to ask questions:
Wednesday, August 26th 6:00 pm in the Parlor
Sunday, August 30th 4:00 pm in the Parlor
Thank You