September 2024 Capital Finance Team Update
Campaign Finance Team Meeting Notes
9-26-2023
Follow-up from July 18th, 2023, meeting:
· Bob Kuehner asked to be excused.
Hip replacement surgery in November.
· Karen Ramey resigned, dedicating more time to prayer ministry.
Potential additional people for committee: John Mosely, Dan Hartman. Bill will contact Dan and Vic will contact John.
· Campaign web site combined into Building web site: TBD
Eli is on a leave of absence for an undetermined amount of time, so timeline is not determined.
Next steps are to determine what content to put on the Building website, and how to create a composite website for both campaign finance team and the building team.
Possibly Stephanie Foster could pick this up?
*Pdf to brochure
*Campaign video
*Updates on giving
Pledge Commitments/Follow-up:
· Thanks to Marie for the campaign presentation at 9/17/2023 service.
· Follow up on new potential Pledges from existing and new members.
Pastor is making two lunch dates on potential new pledges.
· Deletion of prospects from WalshWare status:
o (Potential to get our participation % greater)
2nd Thursday of the month in the eAnchor there needs to be a summarization of the Gift Summary report in the Building Hope for the Future box in the eAnchor.
· The first letter for all givers with their current payment information after September contributions updated.
Letters will be sent out before or on the third week of October.
· Monthly Newsletter communication with members: (how is this done?)
Summary of the gift report in the eAnchor, and …other ideas? Sandy and Mac will touch base with Bob K.
Organ installation:
· Funds will come from the Capital Campaign Account.
· A $725,000 proposal from Buzard has been approved by the Organ Committee.
Construction Loan: (handled by Capital Campaign Team)
· David Lee from Thrivent zoom call on 8/1/23.
· Janice Kibler from Mission Investment Fund meeting on 9/21/23.
From the ELCA ~ $500 million available to lend for projects, at 6.25% variable interest. LCH has the application in hand. Gathering info for the application will be time consuming. They will set up a separate bank account for the building project. First draw out of the bank would be to pay off the existing balance of current loan. Vic & Bill got references for three other congregations in the area who have used the Mission Investment Fund. Application is good for 6 months. Suggestion to complete the application by year’s end, and it can be sent with just the signature of church council president. This will allow us to get a quote from them about how much we will be able to borrow from them.
Building committee is working on getting firm proposal for costs of building that will need to be approved by the voters. After that, another application can be made to lock in actual funds from MIF. The permanent loan would be taken out prior to the end of the 3 year campaign timeline, and after that all the campaign funds would go to pay off the principal.
· Potential meeting with Mike Kelly from Vectra Bank
o (Vectra handled past construction loan)
Bill & Vic are yet to meet with them.
· Still at about 4.5 million available for construction.
· Reconciling Campaign contributions to bank account on-going: As of 8/31/23
o Treasurer’s account: Contributions: $1,122,543.48,
o Expense: $53,743.91, Balance: $1,068,799.57
Bill will be following up with Jamie and Cheryl to reconcile the numbers with the Walsh numbers.
New Business
· Next meeting 10/24/2023, 10:00 a.m. in the Lent Room
Closing Prayer