May 6, 2018 ANNUAL MEETING
CAPITAL CAMPAIGN REPORT 2018
Report by Marie Kittredge and Tony Wesley Co-Chairs
I want to echo my thanks for the leadership on Vestry and lay staff and clergy this year. We serve a God of abundance and that mindset of abundance is most important as we look at the gifts that we receive from the congregation and from the community. I’m going to do a brief overview of where we are in the capital campaign and my remarks are current as of mid-April. These numbers are going to be a little bit different from what I talked about in February at the Dean’s Forum update and also what will appear in the annual report.
As you can see from the Capital Campaign summary above, we’ve collected 60% or just over $659,000 of our pledges. We have another $447,000 to collect. That number is very important and I’m bringing it up to you because we are making expenditures based on fulfillment of pledges and we are joyously anticipating that everyone will complete their pledge, thank you very much!
You will note the total capital campaign pledges is a little over $1.1 million. This number is different from what we shared in February for two reasons. First, we had a very generous donor who changed the format of their gift. They still are contributing to Trinity and we are so, so grateful for their generosity, but because the format changed, we are not including it in the capital campaign. Secondly, a number of pledges changed due to “life” and some had to be written off. Transition is also something that affects the capital campaign as well. That is something that we have accommodated in that final number.
You noticed we already spent some of the money in the new sanctuary chairs ($179,779). Another big chunk of expenditures — $691,000 — is for those life health safety, ADA, accessibility improvements that we are preparing to do. It took a while to do the architecture review to get those scoped the with construction specifications for bids. We will hear back mid-May as to what the actual bids are, so that at this point, those life and public safety costs are estimates.
As you can see from the slide (above), we have a balance of $43,000. Those of you who hark back to 2016 when we went over the feasibility study and the needs of the Cathedral, there still remain some pretty significant repairs that need to be considered over the next coming years. The Property Committee is working on this as is the Finance Committee.
The remaining projects listed above comes to $1.4 Million. This is a lot, but it’s less than the $2.4 Million of projects that we started with 2 years ago. There are a number of ways we can go about achieving covering those costs. It is important to remember again we are a blessed congregation. How we spend our resources isn’t a consideration. Being able to preserve the endowment and preserve our programs depends upon us finding other ways to fund this gap in which we will do.
I will leave it there since my co-chair, Tony Wesley has some other news to share with you.
Good morning. Pax et bonum, peace and all good things. I’ve talked to you many times about gifts multiplying and I usually talk about the spiritual dimension of that. Today, I get to talk like an accountant. I have to tell you Tim made my heart swoon when he used the term, “GAAP.” First time I’ve ever heard that in a gathering other than Finance Committee.
Today, I want to talk to you about how gifts actually multiply in the sense of debits and credits. We have a lovely opportunity through Holly’s good offices. She has found a challenge grant for us. If we raised $72,000, one of the Kent h. Smith Charitable Trust will match that with $75,000.
Holly got to work immediately and she found $30,000 from two institutional givers. After that, a few of us got together and in 36 hours in the last two weeks, we raised $15,000 that was gifts from the Council, the Vestry and all three bishops. We’re down to $27,000 needed to make the match.
As you walk out, myself and three of my beloved colleagues will be wearing these hideous eyeshades and we will be handing you a piece of paper with the hideous eyeshade on it. I’m asking you to consider a small or large additional gift to help us fill the $27,000. If a hundred of us each gave $270 we would be done. People often asked, what would an appropriate gift be? I think about that. My father used to say when we go to weddings, I hear him and my mother talking. “How much did you put in the envelope?” My father would say, “How much do you think the reception cost and then you multiply that by a number of gifts?” An odd thing to remember but it reminds me that people need a little bit of guidance.
I want to think in terms of the power of three. If you could do it, if we took Trinity of three times three times $30 is $270. If 100 of our pledging households did that, we would be finished. This need to be cash gifts, we can’t pledge it. It needs to be something you can pay in the next month, two months, two and half months or so. If you can’t do $270, consider half of that at $135, consider half of that again at $67.50, consider $9.
I guarantee you every single bit will add up. I know we can meet this challenge. I ask you to think about it and pray about it. You don’t need to give us an answer to today, but please take a flyer about this as a reward for us wearing these hideous eyeshades. Think about it and please also add to your prayers the success of this small effort. It is a wonderful opportunity to fill a gap to turn $27,000 into $147,000, so $27,000 can turn into a $147,000 if and really, you are the last source of the congregation. We have one institutional request out there. As we know institutions are looking at basic needs these days, we need to fill this gap largely ourselves.
Thank you for listening to the appeal. Please take one of these flyers Please think about it, please pray.