Capital Appeal Financial Advisory Group | Trinity Camp Hill

Capital Appeal Financial Advisory Group Report – Submitted by Bob Frymoyer Next meeting on n.a.. Report to Finance Committee
Capital Appeal Financial Advisory Group
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– We continue to receive around $5,000 per month in contributions to our capital appeal. In August this amount was nearly $4,800 and has been recognizably higher in some previous months this year.

– At this point most of the appeal giving is above and beyond pledged amounts. There are some pledges still being received in that they were made in the last year or so. There are some pledges not fulfilled due to members pledging late in our campaign. It is noteworthy that numerous members continue to donate regularly above and beyond their pledges or independent of pledged dollars. This has permitted us to not only meet our monthly loan amortization obligation but also to pay additional amounts on our outstanding loan which has therefore now been reduced to $72,000 after our early September payment.
– There remain a small number of members who pledged significant dollars but have not performed well on their pledges causing us not to meet our appeal goals. We plan to have additional contact with these members and other members who have substantially underperformed. We also plan to acknowledge and thank members who continue to give regularly toward reducing our debt.

– We estimate that we will likely have remaining debt somewhere around $50,000 at year’s end. Short of continued generous freewill, non-pledged giving for which we are truly grateful ( and which can be expected to become smaller each month), there is no currently assigned source of funds to address our remaining debt service into 2023.

– There also still remains an in-house loan from quasi-endowment of approximately $200,000 which was used for start-up costs (mostly architect and contracted fund raiser fees) at the beginning of our capital expansion project in 2018.

Bob Frymoyer, Chair

Capital Appeal Financial Advisory Group Report – Submitted by Bob Frymoyer Next meeting on Tbd. As a result of letters, telephone calls, and personal contacts we have reduced the amount of our loan. We realized nearly $15,000 in August appeal giving. There is over $90,000 in outstanding pledges and we can expect continued non-pledged giving. We have written and verbal commitments to expect at least $40,000 in “significant” outstanding pledges by the end of the year.
As a result of the above we recommended to the Finance Committee to borrow from existing operating reserves to reduce our external bank loan to $200,000, thereby reducing our monthly debt service payments. The Finance Committee took such action at its meeting last week.
We still will have nearly $700/month in interest due in our loan with amortization amounts in excess of $4,000 monthly. How to meet this obligation into the new year (and reimburse our operating fund) as appeal receipts decline needs to be addressed.