Beyond Our Walls Campaign to Wind Down


Because of your generosity, our mortgage principal is now below $200,000! Each $100 you contribute to the campaign saves us $100 in interest to the bank. Consider donating now to reach our goal of debt free by our 25th anniversary (2018).


Ken Coryell, Council President has this to say as the campaign winds down:

For more than 3 years, we have been working to reduce our mortgage. When our campaign started, our mortgage balance was $615K with a monthly payment of $3344. This placed a heavy burden on our ministries as a huge portion of our offerings went to our lender and not to the work of our church.

 

Three years ago, we received 42 letters of intent totaling more than $489K and to date, we have collected nearly $374K, some of which came from donors without letters of intent. As this entire amount is applied to our outstanding principal along with our regular monthly payments, our mortgage balance has been reduced to $212K. That’s a reduction from $615K to $212K in a little over three years!!! Our monthly payment has dropped from $3344 to $1900!!!

 

By knocking down this debt, we have been able to save over $440K in interest payments!!!

 

This is a great story and we should feel good about this. But on August 31, it will be time to end the formal Beyond Our Walls campaign. Some donors with letters of intent are continuing to contribute and we hope our balance will be less than $200K.

 

Of course, contributions may continue beyond August 31. This is an especially good time to make a special contribution. Each $100 applied to our mortgage principal still saves us about $100 in interest. Wouldn’t it be great of we were debt free by our 25th anniversary in 2018?

 

 

 


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