1) Can our church afford this plan now?
The timing of this faith challenge is crucial for the loan agreements we will be making in the next few months. Seventy-five percent of all churches entering a capital program will raise two to three times their annual budget for property over a three-year schedule. Depending on our membership's response, we could reach the Level 3 Goals and make considerable progress in securing our future ministries.
2) What will be the initial goal?
We hope to raise one of the three Goals in "The Next Step of Faith" over the next 36 months. Whatever we raise, will help pay the unsecured outstanding loans, complete some urgent projects and assist in refinancing the balance of the outstanding mortgage.
3) Why respond to this challenge now?
Our existing property has continued to increase in value since the initial project began. With the unexpected downturn in real estate and the economy, other churches have faced a serious crisis, due to new changes in the debt ratio and bank regulations.
Since our existing buildings and new property were combined into this proposed agreement, we are now renegotiating an additional investment source for the loan and finance the balance of the amount not raised. We are securing a bright future to complete this program as an alternative funding source for our future ministry development.
4) What are the plans for new ministries?
Each of the 3 Goals outline new ministry opportunities. The Goal Level we reach will be based entirely upon the response of the members and friends of the church family to the 36 month pledges. Pray about your step of faith with our church family.
5) How will the priorities be decided in the 3 Goal Options?
Some of the priorities are already in place, like the water hook ups with the city and the unsecured private loans. The eventual monthly mortgage payments will be a high priority among all these options. As pledge levels increase, so will other options. Factors that will influence these decisions will include potentials for new revenue, opportunities for effective outreach and growth, high impact staffing positions and felt needs of the community.
6) Will "The Next Step" plan negatively affect overall giving?
Actually most congregations experience an increase in giving in other areas as needs for property and buildings are addressed. For a number of reasons, giving in new areas tends to encourage overall contributions. And new donors will begin to give for "The Next Step of Faith" who have not contributed significantly in other areas.
7) Are we paying for our property and new buildings now?
Yes, but only partially. The short term loan agreement we have in place now is only covering the interest portions for our new property. In February, we will have a new mortgage agreement that pays for the interest and principle on our loan. Up to now, we have made these interest payments directly from general operational funding. The Next Step Plan will provide a new revenue stream designed for reducing the property indebtedness.
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