How Capital Campaign Funds Will Be Used
The church has identified the following initiatives, totaling $700,000 over three years:
- Retire mortgage debt: $571,000 (amount due March 2019)
- Install solar panels on education building: $62,000
- Replace HVAC equipment in 1/2 Estill House: $38,000
- Funds toward completion of Estill HVAC: $29,000
Q: How is the Stewardship Campaign different from this Capital Campaign?
A: The Stewardship Campaign, conducted in the Fall of 2016, was designed to maintain and increase Nativity’s 2017 ongoing operating budget, which pays for recurring expenses such as salaries, utilities, building and grounds maintenance, events and so on. With the pledged increase from 2016 to 2017, we were able to ensure continuance of our first full-time Youth and Children’s Minister!
Q: What are my options for pledging and fulfilling my pledge?
A: You will receive a paper pledge form designated specifically for the Reaching Up, Reaching Out Capital Campaign. Online pledging is also supported. You may fulfill your pledge in more ways: cash, check, or stock gift. Fulfilling your pledge by means of a stock gift is a good choice for many people, since neither you nor the church pay capital gains taxes on the appreciated value (as you would have to do if you cashed it in yourself or a relative or friend would have to do if you gave it to them).
Q: In what sequence will the projects be funded?
A: Solar panels and HVAC for Estill House office area will be funded first, mortgage debt elimination next and finally, HVAC replacement for the rest of Estill House. Completing energy-related projects first will provide immediate savings, whereas our current mortgage stipulates that it cannot be paid off in advance of March 201
Q: Once the projects are completed, how much will the church “save” annually by lowered utility bills and mortgage elimination?
A: Retirement of the mortgage debt will free up about $47,000 a year in our operating budget. Replacing the HVAC equipment and installing solar panels will save about $4,600 in cooling/heating costs. Thus a successful campaign will free up about $51,600 to our annual operating budget. In 2016, we also spent more than $8,000 in HVAC replacement parts.
Q: What is this “Fun Event” I keep hearing about?
A: Glad you asked! We hope everyone in the congregation will join us for a celebratory dinner to kick off our Reaching Up, Reaching Out initiative. All are welcome and childcare will be provided. The event will take place at 6:30pm on Thursday, May 4 at the NC State University Club.