“What If..” Capital Stewardship Campaign
One of the questions that I am often asked about Tates Creek is this, “Does the church have any debt?” The answer to that question is, “Yes.” Assuming that the next question is, “How much?” I try to provide the current figure for the indebtedness. The current debt is $1,542,974. I also add that if they would like to write a check for that amount, the church would be very appreciative. All joking aside, the Tates Creek Church has always had a healthy attitude toward paying off debt. The cost of the present Worship Center was $2,800,000, and the church eliminated that debt in seven years. Granted, there were two gifts to the church that totaled one million dollars, which helped eliminate the debt sooner.
The latest addition to the church plus repaving the parking lot and a major maintenance item totaled $3.8 million. Pledges from the Growing to Serve Capital Stewardship Campaign totaled $1.8 million. Those pledges began in December of 2007 and continued for three years through December, 2010.
If we notice, the payment for the current mortgage is not a part of our General Fund. Therefore, we ask, “How have these payments been made since they are not part of the General Fund?” The answer is that gracious, generous folks have continued to give toward the Growing to Serve Capital Stewardship Fund. Their gifts each month have been more than the payment. The payment each month is $12,888. When the amount given each month is over the payment amount, the extra is applied to the principal of the loan. The rate for the loan is a variable rate. Up to this point, our rate has been 3.25 percent. However, we know that this will not last very long. So, we want to be proactive with eliminating the debt.
Therefore, later this fall, we will experience another Capital Stewardship Campaign with several goals; one of which will be to pay off the debt. Part of this new campaign is to give some attention to the Worship Center with regard to windows, carpet, and paint ~ at the least. We also want to look beyond paying off the debt with God’s vision for the future of Tates Creek. We are going to name the new Capital Stewardship Campaign, “What if . .” Continued contributions from folks for the capital stewardship campaign will now be counted toward the new campaign, “What if . .”
For Zella & me, being a part of a stewardship campaign always brings exciting ways to see how God provides the extras to contribute to the campaign! I trust that you will join us as together we strive and pray and give for the advancement of our Lord’s Kingdom here on earth!