Capital Appeal Financial Advisory Team Report – Submitted by Bob Frymoyer Next meeting on tbd. KEEP IT UP..!!!!!!!!!
Continued contributions during April to reduce our capital appeal loan with S&T bank gave us a loan balance of less than $100,000 with a fund balance of $13,600. (We paid additional monies along with our May loan payment to reduce it even further to $92,000.)
BUT, there are only are few dollars due on more material pledges we have received. While we received $5,500 in contributions in April, we might expect such a monthly level to be reduced moving forward.
SO, keep donating as you are able!
Capital Appeal Financial Advisory Team Report – Submitted by Bob Frymoyer Next meeting on tbd. As of the end of October we have received $836,000 in pledged dollars and $109,000 in non-pledged giving, totaling $955,000.
The month's appeal receipts were $16,000; monthly average giving this year has been $19,000. Payment for construction costs was $158,000 for the month leaving a balance of $348,000 in our Appeal account. With the advent of the second phase of construction we can soon expect our need to borrow from our construction loan since the pace of receipts will fall behind invoices.
We are reviewing pledge performance to determine if the remaining non-receipted pledged dollars can be realistically expected within our timeframe and to potentially contact individuals who may not giving per their pledges.
We also are planning an approach to contact members who may be able to pledge at this time.
