ST. THERESE CAMPAIGN
Frequently Asked Questions
Will the current state of the economy affect how much we can raise in the new Capital Campaign?
Certainly, there is anxiety about the current state of the economy and how this will affect giving. Nevertheless, our parish must move forward with this capital campaign now in order to meet our financial responsibilities. Moreover, as Fr. Allender suggested in our recent parish mission, this is an opportunity to allow God to “transform our fears into faith.” While each of us needs to be prudent with our finances in difficult times, we also need to move forward with faith and trust that if we are wise stewards—if we keep in mind essential priorities—God will generously take care of our real needs.
Will new parishioners be asked to make a pledge to the Capital Campaign? How will we reach new Parishioners or those who have not had a chance to participate?
Our parish maintains a database that contains the dates parishioners joined the parish and the level of participation in prior capital campaigns. New parishioners and those who have not yet participated will be invited to make a commitment to the campaign through written communication, personal contact, targeted events and extensive follow-up.
If I am still fulfilling my pledge from the previous Capital Campaign, will I be asked to make a pledge to the new Capital Campaign?
You will be asked to make a commitment to this new capital campaign in November. Depending upon how you have actually made your payments related to the current campaign, you should have 1 year or less remaining on your last commitment as of December 31, 2008. You will be asked to incorporate that remaining pledge amount into your commitment for the new three-year capital campaign. If you do not make a pledge under the new capital campaign, the balance owed from the prior campaign will remain in the parish records.
What are ways the Administrative Staff is working to reduce monthly operating expenses of the parish?
Operating expenses consist primarily of salaries and benefits, facilities, property and casualty insurance, printing, postage and books. The parish staff is continually looking for ways to control and reduce expenses. Here are a few examples. In the past year, the elementary education ministry has actively sought and received grants which help defray costs, including grants received for the computer lab and the security system. Where there is availability, non-parishioners may now attend St. Therese School for an established tuition amount. There are currently several exchange students from Korea who attend St. Therese under this program. Certain full-time staff positions have been replaced with part-time positions, reducing salaries and benefits expense. The parish is participating in a KCP&L program whereby we receive electric bill credits for reducing our usage during peak demand periods. On a daily basis, the staff is conscientious about turning off lights and equipment, and controlling building temperatures. All of these “little ways” add up to savings for our parish.
What are ways the Administrative Staff is working to better communicate with parishioners?
The staff has been focused on improving communications with the parish for the last couple of years. They have provided better and more in-depth information about finances and ministries in the annual report, mailed to each home in the fall. In addition, the weekly bulletin was expanded to better communicate information in all areas. Each month parishioners are mailed a postcard with a calendar of events, as well as thought-provoking insights about living out our faith. Improving communication is a never-ending process, and the staff will continue to look for ways to improve your understanding of our parish and all of the good work that is done, along with financial information that is more comprehensive and easier to understand.
What is our Capital Campaign $ goal?
Our goal is $5,000,000 to be received over the three-year period.
How can I support the Capital Campaign if I live on a fixed income?
If you are currently giving to a capital campaign, you can extend that giving through the end of the new three-year period. If you are unable to provide financial support, you can still help in “little ways.” You can get involved with the campaign volunteer efforts and offer prayers for the success of the campaign.
With only 12% of the parish involved in the Readiness Assessment Study, how can we feel confident that the decision to move forward with a Capital Campaign represents the entire parish?
The Church Development Foundation helps many religious communities perform readiness assessments. Based on their experiences, a 12% survey response is terrific. Of the 385 households that responded to the survey, 170 households indicated that they would collectively consider committing approximately $713,000 to a capital campaign over a three-year period. If you extrapolate that amount, we could reasonably expect to receive $5 million in capital commitments.
What is the information on our current loan?
The loan balance as of June 30, 2008 was $7,252,913. Assuming our current principal repayment schedule of $504,000 per year, the loan would be paid off in approximately 14 years, toward the end of 2022. Of course, if our parish can pay the debt down sooner, there would be significant savings related to interest expense, and those funds could be used to enhance parish ministries. Our lender is the diocese, and they lend at a variable rate, currently 4.50%.
HOW DO MATCHING GIFT PROGRAMS WORK?
Many businesses offer a matching gift program as part of employee benefits. If you, or your spouse, work for a matching gift company, you can take advantage of this program and double or triple your gift to St. Therese. Forms are usually available from your personnel office. If your company has a paper form, complete your portion, mail it to the Parish Office. If your company uses an automated system, complete the procedure, and you are finished.
DO WE ALLOW AUTHORIZATION AGREEMENTS FOR DIRECT PAYMENTS (ACH DEBITS)? Yes, parishioners can have their campaign pledge (and annual appeal pledge) deducted directly from their personal banking accounts. Forms are available in the parish office or on the St. Therese website.