Early success and donations for the campaign allowed us to pay $340,000 on ERUUF's mortgage almost immediately. The variable rate loan was reamoritized in March 2012 for a nominal fee to lower the monthly payment, which reduced annual mortgage costs by $58,000. Late in Dec. 2014, an anonymous donor came forward with a matching gift challenge to pay off the remaining mortgage, which raised an additional $170,000 leaving a mortgage balance of $121,982 by 2015-2016. Annual mortgage costs decreased from 2013 to 2016 from $43,244 to $17,500 as a result of the campaign. As of Dec. 31, 2015, the capital campaign had received total pledges of $1,051,932 and actual contributions of $994,258.
Part of the monies raised during the campaign were earmarked for campus facility maintenance. Here is a brief schedule of repairs and improvements that have been prioritized according to a master plan that was developed based on the report of needs from an external consultant:
Roof repair (complete)
Parking lot resurface (summer/fall)
CARE Bldg floor, refurbish/rooms (summer)
Green Campus Part A: Insulation/weatherproof, new toilets, lighting, solar tubes (summer)
Fellowship Hall exterior painting (summer)
Sanctuary speaker remount (summer)
French drains, rear Sanctuary (fall)
Landscape timbers Care bldg (summer).
Many thanks to the Debt to Dreams team and the generosity of the congregation to make this possible!
| Major Expenditures | $927,502 |
| Mortgage Payments | 714,502 |
| Transfer to Deferred Maintenance | 155,000 |
| Other Expenses (refinance, consult fees, print/postage, etc.) | 58,000 |
| Capital Campaign Fund | $36,254 |
| Deferred Maintenance Fund | $30,520 |
| Original Mortgage before campaign | $1,125,235 |
| Current Mortgage balance |
$339,000 |
|
Summary of Major Renovations to date* ($124,000) |
| Refurbishing of CARE Bldg Building floors |
| Painting CARE Bldg hallway |
| Fellowship Exterior Painting |
| CARE Bldg tables and chairs |
| Retaining wall CARE Bldg |
| Parking lot resurface |
| French drains Sanctuary |
| Fellowship Hall Kitchen Remodel |
| Window/Ceiling Repair (all bldgs) |
| HVAC (Commons Rm) |
| Carpet (Rms 7, 15) |
| Painting (campus wide) |
| Automatic Doors |
| Ceiling Fans (Rms 7, 4, 5) |
| Painting (Commons) |
| Wall repairs (Sanctuary |
|
AV Upgrades (Care bldg.) Drainage (playground, parking lot) Rolling storage carts/chair (RE classrooms) |
(prepared by Daniel Trollinger, Director of Administration)
