capital campaign proposalimages.acswebnetworks.com/1/2201/capitalcampaign_final.pdf · capital...
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Capital Campaign
Proposal First Presbyterian Church of Quincy
Informational Meeting Oct 7, 2012
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Process Timeline
Oct 7: Informational Meeting
Oct 14: Congregational Vote
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Process Timeline (Cont) Oct 17: Trustees of Presbytery
Nov 26: Presbytery Vote
Jan 1: Anticipated commitment on financing
Feb 1: Approximate date for release of funds
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The Project Capped at $500,000
162
78 66
42
36 21
20 30
45
By the Pieces ($000)
Elevator
Parking Lot
Floors
Rhino Shield
Bathrooms
Electrical
Windows
Misc
Contingencies
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A Big Bite of the Pie ($000)
To Be Raised,
$375
Known Intent, $100
Cash on-hand, $25
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Financing of Capital
Improvements Presbyterian Church Investment and Loan Program
(PILP) – Lender
3.8% - Annual Interest Rate
20 years – Term of the Loan
$2,233 – Monthly Payments
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Traditional Payment Structure
$ 375,000 – Amount to be Financed
$ 161,000 - Interest Paid Over 20 Years
$ 536,000 - Total Amount Paid Over 20 Years
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Pre-Payment Options
Increase Monthly Payments
Annual Lump Sum Payment Towards Principal
(Paid at the end of each year)
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Pre-Payment Options Increased Monthly
Payments
$4,642 – Additional Monthly
Payment
$6,875 - New Payment Amt.
$37,300 – Interest Paid
$412,300 – Total Paid
5Yr – Life of the Loan
Annual Lump Sum
Payments
$57,000 – Additional Annual
Payment
$42,100 – Interest Paid
$417,100 – Total Paid
5Yr – Life of the Loan
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Comparison of Three Payment
Options
Traditional Payments
Additional Monthly
Payments
Additional Annual
Payments
Annual Payment Amount $ 26,796 $ 82,500 $ 83,796
Total Interest Paid $ 161,000 $ 37,300 $ 42,100
Total Amount Paid $ 536,000 $ 412,300 $ 417,100
Savings vs Traditional Payments $ 123,700 $ 118,900
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Example 5 Yr Pledge Amounts and # of Gifts for $375K Campaign
0.0
10.0
20.0
30.0
40.0
50.0
60.0
70.0
80.0
90.0
1 Gift 2 Gifts 4 Gifts 8 Gifts 14 Gifts 22 Gifts 45 Gifts
$25K
$20K
$15K
$10K
$5K
$2.5K
$1K
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So far, by faith;
and by faith for today
and for the future