Remarks by Richard Eason, Chair of Capital Campaign Committee:
As all of you know, we took a giant step of faith and approved a motion to allow the church to borrow $700,000 in order to construct a Family Life Center to be used for the purpose of magnifying the gospel of Jesus Christ. The approval of this action was used to develop our 2020 church budget which included monthly payments of approximately $4,000 a month for 25 years. If we adhere strictly to the payment sched-ule of the note, we will have paid over $409,000 in interest and a total of (principle + interest) of $1.1 million. By voting for the loan, and the 2020 budget, each of us committed to increase our contributions to the general fund in order to make these new monthly payments.
The goal of our Capital Campaign is to be debt free in 10 years. Debt Free in a Decade--that is our motto! In order to accomplish this goal, we need to pre-pay the principle balance on this loan in the amount of about $360,000 over the next three years. Pre-paying this amount will actually reduce our interest costs by over $300,000 which brings our total expenditures down to $800,000 verses $1.1 million. You can see how dramatic an impact it has by pre-paying the principle.
Our campaign committee members include myself, Leonard Johnson, Mrs. Irma Duke, Mr. Roy Strickland, Alex Adams, Furman Keith, Pastor Chris Turner. Also included on this committee are Tammy Matthews and Allison Eason who are providing us with design and mar-keting ideas to help us promote the “Magnify” Campaign. The commit-tee’s purpose is to promote and head up this effort to raise these principle funds to pre-pay this debt so that we can be debt free in a decade. We’ve delayed this Capital Campaign because of the Corona Virus and the un-certainty that it has brought to our national economy. However, as the year progresses, we will begin promoting ideas and ways that each of us can contribute financially towards this goal.
These ideas include a speaker who will provide us tips to max-imize our giving while avoiding taxes. We will also be announcing a leg-acy naming rights program which will provide opportunities for naming rights to several rooms in the Family Life Center, as well as, naming rights for the entire facility. We will have a Faith Promise Banquet on Saturday October 17th. Everyone at the banquet will receive a faith prom-ise brochure that will allow you to prayerfully consider and prayerfully covenant with God the amount you feel led to give over the next three years. The next morning on October 18th we will celebrate our 240th Homecoming and you will have the opportunity to turn in your faith promise card.
Our committee covets your prayers as we go through this pro-cess. For myself, personally, in the last month, this has become even more meaningful now that I have a grandson in this church. It is espe-cially important to me to see this Family Life Center built and paid for. I can’t imagine the excitement and the pride felt by those of you who have been here your entire lives and those of you who have grandparents and great-grandparents who were part of this church. I’m sure it is a special blessing to know that you are promoting God’s work by magnifying his work in the community through this Family Life Center.