Because we still have financial needs that we are unable to cover from general fund giving. And as outlined in the “Own It” booklet, we have the opportunity to eliminate the debt on our building which would put us in a very strong position to be able to afford to do additional ministry.
This campaign raised $687,099. The funds raised were used for a down payment on the building plus balloon and interest payments on the contract for deed as well as costs related to the building purchase (inspections, legal fees, etc.). Funds were also used for ongoing maintenance and operating costs of the building.
As noted in the “Own It!” booklet, the need is $425,000. The funds raised will be used to pay off the contract for deed including interest; they will also cover minimal campaign costs. If our goal is reached, the building will be all paid for in 2015.
No consultants will be used on this campaign. The campaign is being managed by staff and volunteers.
The campaign will run April 1, 2012 – March 31, 2015
We will ask for commitments to the campaign at the weekend service – March 25, 2012. You can start giving to the campaign any time after that weekend.
Non-cash gifts such as stock, property and other similar type investments are welcome – please contact Jim Bird, Finance Director, at 952-564-3771 or jbird@evergreenlakeville.com
We greatly appreciate your faithfulness in giving regularly to Evergreen. Your gifts to the general operating fund are absolutely critical to the ongoing ministry accomplished through the New Hope location. We know that giving above and beyond that is an uncomfortable challenge. But we ask you to prayerfully consider what God would have you do. Kingdom work here on earth is never ending and God directs that this work be funded by gifts from His people. Through faith we are able to do far more for God than we might at first believe. This requires that we live with different priorities and some amount of sacrifice. Please go to God and ask Him what you might do.
Absolutely not. The goal of the campaign is to encourage every person to pray and seek God. God is able to show every willing person what to give. The decision whether to give and how much to give is between you and God. This verse is guiding us through this campaign: Each man should give what he has decided in his heart to give, not reluctantly or under compulsion, for God loves a cheerful giver. (2 Corinthians 9:7 NIV) We are far more eager to see every person engage with this journey of faith and seek God, than we are to raise a lot of money.
$1,080,240 Building Purchase Price
- $300,000 Down Payment
$781,480 Building Contract for Deed
- $428,180 Payments Made To Date
$353,300 Loan Amount as of January 31, 2012
We are currently making monthly payments of simple interest only (6% per annum) on the loan. Our monthly payment of interest will continue to be $1,766.50 per month until March 31, 2013. At that time the contract for deed must be paid off. Since the “Own It” campaign runs until 2015, we will not immediately have the funds available to pay off the entire contract for deed. We will take out a loan to pay off the contract for deed using the capital campaign commitments as collateral. The gifts received in years 2 and 3 of the campaign will be used to pay back this loan. If the capital campaign reaches its goal, the building will be all paid for in 2015.
If we don’t reach our goal, then some of the money needed to make the loan payments will have to come from our operating budget. Unfortunately our operating budget cannot absorb this expense without curtailing some of our important ministry efforts.
The primary objective of this campaign is to raise funds so that by 2015 we have fully paid for and own the building without any debt. If God blesses us with more than this amount, then any excess monies would be used for such things as facility repairs and updates, or new ministry initiatives (like Kids Against Hunger).
God led us to believe that an inviting, full-time facility was a critical tool in realizing His passion for expanding the Kingdom and transforming lives.
Since we purchased the building in 2008, God has been using our building! (See the “Own It” booklet.)
Yes there are added financial pressures to owning a building, especially in these uncertain economic times, But following God’s will requires faith and it may be God’s will for us to continue to be under financial pressure so that we constantly depend upon and trust Him.
We are determined to praise God for whatever He does. Everything He does is worthy of our trust.
Contact Lynn Newman at 952-564-3765 or lnewman@evergreenlakeville.com
Sundays, 10:15 AM
3351 Independence Ave N
New Hope, MN 55427
952-895-1773
Evergreen-New Hope is a location of Evergreen Church. There are five Twin Cities locations.
Learn more about Evergreen and its locations. >
Evergreen Church
2300 E. 88th Street, Bloomington, MN 55425