Capital Appeal Financial Subcommittee Report – Submitted by Bob Frymoyer Next meeting on Tbd. Very nice October Appeal giving at $6995. Loan balance is now at $58,800 with our goal of having a near $50,000 balance at year’s end.
We are planning certain additional contacts for a few pledgers after some additional analysis of recent giving.
See also Mary Haar’s report for further information.
Capital Appeal Financial Subcommittee Report – Submitted by Bob Frymoyer Next meeting on Tbd. Highlights:
1) Appeal fund balance of nearly $20,000.
2) Receipts for December of nearly $15,000.
3). Monthly debt service of $4100. Loan balance of $172,000.
4) Approximately $50,000 in remaining adjusted pledges
with an estimated $40,000 to be realistically expected.
5). We are planning to maintain an appeal fund balance of at least
$10,000, which represents the $6,000 in interest due this year on
our loan plus a reserve $4,000 of one monthly payment.
6). THE BIG NEWS is that with the above we are NOW able to
Inform the congregation that EVERY dollar given to the appeal
will be used to reduce the debt, DOLLAR for DOLLAR. This has
been Instrumental in stimulating additional giving in the past
and we are hopeful this will again happen.
7). With Stephanie Maurer we are undertaking media blasts to
Inform the congregation of the above and encourage giving.
So, please SHARE the BIG NEWS! Pass it around and exhibit
leadership through your own additional giving!
Capital Appeal Financial Subcommittee Report – Submitted by Bob Frymoyer Next meeting on Tbd. Summary points for November
1) Appeal balance of $9363 after paying back internal loans of $7,500 to budgetary reserve account and $35,000 to operating reserve balance.
2) Receipts of $11,200 for November plus $10,000 from Ron Katzman bequest.
3 Continued monthly debt service payment of$4100 for the next 4.5 years.
4) Approximately $60,000 in remains adjusted pledges with $50,000 to be realistically expected.
5) Monthy beyond pledge giving as well as non-pledged giving continues.
6) By holding $6,000 in appeal fund ,representing our interest due next year, we expect to be able to announce that all dollars given from January 1 on will applied to debt reduction dollar for dollar. We are planning a media initiative for this in January to encourage additional giving.
7) Loan balance is $179,000.
Capital Appeal Financial Subcommittee Report – Submitted by Bob Frymoyer Next meeting on Ongoing. As we move into the final stages of construction, we are increasingly faced with the potential need for borrowing for a period longer than the next few months (current loan balance is approximate $380,000). While revenues continue to be received each month at a reasonable rate ($15,000 for April), we nonetheless continue with an expected shortfall, likely in at least the $200,000 range. We are optimistic that our May “bring us over the finish line to be debt free” initiative, including multi-media efforts, letters to specifically focused congregational groups, and the May 23 Open House, will help to reduce our exposure. We will be in a better position to know after these efforts and thereby the extent to which we will need to address debt service from other revenue sources.
