Last Week's Sermon
Burn the Note Campaign
As you know, on May 1, 2015, UPC entered into an interim period between Senior Pastors. During this summer, in addition to hiring an interim pastor, the Session discussed and approved a “Burn the Note” campaign to retire our current debt. In order to do this, the Session is asking for your help.
As background, especially for new and recently-joined members, UPC entered into a construction loan with Prosperity Bank in 2011 in order to complete repairs and renovations in the lower level of the building, much of which had been delayed for years. Those repairs and renovations included water leaks and the transformation of the lower level into a more usable space for our various ministries (including the Great Hall and the “Sunken (Max Carr) Patio”). Over $1,900,000.00 in renovations and repairs were needed. Pledges did not cover all of this. After much discussion, the church agreed to do all the work in one project (divided into two phases) in order to avoid even greater costs in the future. The church borrowed money to cover the costs not paid by pledges. At the end of the construction in fall 2014, the promissory note (the “note”) totaled $500,000. Today, UPC owes approximately $490,000.
Since San has retired, Session thinks it would be a wonderful gift for the future Senior Pastor if we retired (“burned”) the note before the Pastor arrives. Since we don’t know when that date will be, Session would like to put a more definite time frame on the campaign: We would like to pay off the note before the end of the year (that date would also let us put into the church information form that UPC is debt free!). Approximately $480,000 will be owed at that time. UPC needs your help
to do this.
To kick off the campaign, Session has agreed to use up to $120,000 from Estate Gifts, which have been made to UPC over the years, to match, on a 3 to 1 basis, your gifts. That is, $360,000 in gifts will take advantage of the full match amount, and will allow the congregation to burn the note!
This “burn the note” campaign is separate and apart from the annual Stewardship Campaign. That campaign will start September 13. Session does not want the “burn-the-note” gifts to reduce the Stewardship Campaign pledges for UPC’s 2016 operating fund.
Session asks that you prayerfully consider helping pay off—“burn”—the note. If your finances permit, please let UPC’s Finance Manager know by either calling her at the church office (Sandie McGee, 512.476.5321, ext. 206) or sending her an email (email@example.com) by August 17, 2015. We would like to have all gifts paid by December 15. Please let one of the pastors know if you have any questions.
This is an exciting time for UPC. Session looks forward to your participation in the life of this Christian community, both during this interim period and beyond.