Questions about the building. >>
Questions about the campaign. >>
Questions about our finances. >>
God has led us to believe that an inviting, full-time facility is a critical tool in realizing His passion for expanding the Kingdom and transforming lives. We believe God will expand His Kingdom through our move to a permanent home in three main ways.
Greater visibility - The wonderful things God has been doing at Evergreen-Lakeville have been hidden in a school building. Many more people will discover a life-changing relationship with Jesus Christ simply through this highly visible presence in the community.
Greater stability - A permanent home sends a strong message to our church family and our community: ‘We are here for good—for this generation and generations to come!’
Greater ability - A full-time facility will become a base for creative local outreach as well as developing workers for future church plants in the years to come.
When are we moving into Trinity?
We own the building and are currently leasing it to Trinity Evangelical Free Church while they complete the construction of their new church building. Trinity plans to move into their new building sometime this summer. Once they vacate the building, we will want some time to do basic clean-up and fix-up to prepare the building for our ministries. Depending upon the exact timing of Trinity’s move and the completion of building prep work, it may be feasible to move to the building in late summer.
The current plan is to have someone live in the Parsonage rent-free in exchange for their part-time work in helping maintain the church property.
Planning is now underway and final details will be completed by late spring or early summer.
The amount of changes to facility will vary some based upon the success of the campaign. Initially, only changes required to allow us to perform ministry in the facility are planned. The majority of these will be concentrated in the auditorium. Thankfully, the facility is in good shape and few changes are needed.
Like any new homeowner, these decisions will be greatly affected by budget. Priorities will be assigned by the pastors working with the Pastors Advisory Board, Ministry Coaches and Ministry Leaders. Furniture to perform basic ministry and similar needs will have to take precedence over remodeling. I would like to volunteer to help with the work on the building, what can I do? Stay tuned. As we move closer to taking possession of the building, we anticipate needing teams of volunteers to help with a variety of tasks within the building. As that time approaches, announcements about the formation of such teams will be placed in our church bulletin and on our website.
While Laying the Foundation has been a very successful campaign for our church, there is still a considerable need to cover expenses related to the purchase of the Trinity property.
The status of the first campaign which ends June 30, 2007 is as follows:
Current commitments - $1,183,527
Commitments received as of 2/28/07 - $997,045
Commitments yet to be paid* - $186,482
Church savings contributed to the campaign - $55,000
Total Cash Available - $1,052,045
*We are expecting that these remaining commitments will be received by the conclusion of the Laying the Foundation Campaign which ends 6/30/07.
Monies from the Laying the Foundation Campaign were used as follows:
Down payment of the building and principal reduction payments - $660,000
Staff expenses/benefits (3 yrs.) - $204,700
Campaign expenses – Generis, printed materials, postage, celebration refreshments - $78,100
Costs related to the purchase – building inspections, attorney fees, closing costs - $80,100
Total Cash Used YTD - $1,022,900
Additional monies received through the end of this campaign will be applied to the needs for the “On the Move” campaign.
See the “On the Move” Realizing the Dream page.
We will again be using the same outside stewardship partner that assisted us on the first campaign. Their organization has undergone a name change and they are now known as Generis Partners LLC. We feel that they were a key to our success in the Laying the Foundation campaign and they have a proven track record of success with churches. While Generis provides us with considerable good advice, services, resources and training, the vast majority of work to make this campaign a success is being done by faithful, committed volunteers from our congregation thus making this our campaign.
Giving to the “On the Move” campaign will occur from July 1, 2007 until June 30, 2010.
We will be asking everyone to make a commitment to the campaign at a special service on May 6th. While the “On the Move” campaign does not officially begin until July 1, 2007, we anticipate receiving gifts before then. As there are many “up front” costs related to moving into the building, it will be helpful to have as much cash in hand as possible to pay these expenses.
The first campaign officially closes on June 30, 2007. We would like you, if possible, to complete your commitment to the first campaign by that date. If you have any questions about that, please contact Jim Bird at 952-895-0887 ext. 111. We are asking that you prayerfully consider an entirely new commitment to this second “On the Move” campaign which runs three years from July 1, 2007 through June 30, 2010.
Non-cash gifts such as stock, property and other similar type investments are welcome – please contact Jim Bird at 952-895-0887 ext. 111 or to discuss the details. Gifts in kind that will assist us in meeting the furnishing requirements for the building are welcome. If you have a gift that you feel may be useful or if you are aware of ways to secure large quantities of new or slightly used classroom type furniture (for nursery, Sunday school, youth ministries, etc.) either for free or for below cost, please contact Lynn Newman at 952-895-0887 ext. 105. Please keep in mind that because we do not have storage capacity we are limited in what we can accept until we actually take possession of the building.
We greatly appreciate your faithfulness in giving regularly to Evergreen. Your gifts to the general operating fund are absolutely critical to the ongoing ministry accomplished through the Lakeville location. We know that giving above and beyond that is an uncomfortable challenge. But we ask you to prayerfully consider what God would have you do. Kingdom work here on earth is never ending and God directs that this work be funded by gifts from His people. This requires that we live with different priorities and some amount of sacrifice. Please go to God and ask Him what He would have you do.
Absolutely not. The goal of the campaign is to encourage every person to pray and seek God. God is able to show every willing person what to give. The decision whether to give and how much to give is between you and God. This verse is guiding us through this campaign: Each man should give what he has decided in his heart to give, not reluctantly or under compulsion, for God loves a cheerful giver. (2 Corinthians 9:7 NIV) We are far more eager to see every person engage with this journey of faith and seek God, than we are to raise a lot of money.
Our main objective for owning a building is to create a stronger base for future outreach of all kinds, including planting new locations. 2010 was placed in our vision statement as a faith goal for the year we hoped to begin planting new locations. We wanted to be sure that we did not lose sight of this part of our mission during the absorbing effort of finding a permanent facility. God has already graciously given us a wonderful place to do ministry. It is our hope and prayer that He will quickly bless us with sufficient resources and growth to provide for both our facility and increased outreach. Whether we will have sufficient strength in 2010 to plant a new location while still providing what we need for continued growth at this location remains to be seen – but we are still praying it will be so. If not, we have not failed. Rather we are confident that by keeping this part of our mission a reality in our vision, planning and prayers we are being faithful to do our part in seeing God bring it about.
We do not know because we do not know the timing and the amount of resources we might be blessed with. Also, we do not know how God will choose to direct our ministry in the future.
Lakeville purchased the Trinity E-Free property in June 2006 for $3,200,000. Loan amount $2,560,000 - ($3,200,000 purchase price minus down payment of $640,000) Interest only payments from July 2006 – June 2010 plus required principal payments noted below. Interest and principle payments from July 2010 – June 2015 Interest rate 7.95% Total Loan Amount $2,560,000 Principal Amount Paid YTD - $20,000 Balance of Principal Remaining $2,540,000 Required Principal Payment due: 6/19/08 - $340,000 Balance of Principal Remaining $2,200,000 Required Principal Payment due: 6/19/10 -$400,000 Balance of Principal still due as of June 2010 $1,800,000
Current monthly interest only payment is $16,960 per month. (Paid by Trinity E-Free – lease payment) If reduction on principal is only the minimum amount required ($740,000) starting in 2010, monthly payment (principal and interest) will be approximately $13,800 per month. When do we have to pay back the loan? The loan is to be paid by June 2015. If it is not all paid then a new mortgage will have to be obtained.
A number of financial institutions, both locally and nationally, were solicited to obtain financing to purchase the Trinity E-Free property. Since for the first few years our source of funds to pay back the loan is a capital campaign all of the financing proposals offered by the financial institutions were variations of an interest only loan with periodic principal payments. Each of the financing proposals we received were reviewed by a committee made up of a banker, savvy business person and Evergreen finance personnel.
The pros and cons of each proposal were weighted and the best option was selected. The option we chose had the lowest interest rate. While the 7.95% interest rate may seem high, especially for those of you used to seeing much lower residential bank loan interest rates, this rate was the most competitive across the financial institutions we looked at for a commercial interest only loan. Bond financing was also investigated and considered. In our investigation we learned that this type of financing would be more expensive, provide less flexibility in making payments, and take years longer to pay back than an interest only loan with periodic principal payments.
We are currently paying $4,047per month to rent Lakeville North High School. Based upon information from Trinity E-Free we know that utilities, insurance and basic maintenance will cost approximately $4,420 per month. This amount does not include lawn care, snow removal, janitorial services and a repair and replacement fund.
It is anticipated that the capital campaign will allow us to pay down the loan balance so as to reduce monthly principal and interest payments. We believe that our presence in a permanent facility will attract new people who will give. At some point, in the very near future, Lakeville’s general operating budget will need to absorb the monthly principal and interest payments as well as the operating costs discussed above.
The current plan is to have some combination of part-time staff (payment in the form of living in the Parsonage rent-free), volunteers and possibly a service contract with a maintenance provider for annual maintenance checks.
We will be grateful with whatever God provides. This campaign is about more than raising money; it is a faith journey. God performed a miracle when the Trinity property became available. After a two and a half year search it was looking more and more like finding a permanent full-time facility in Lakeville was not going to happen. It took faith to wait upon God. Now God has provided us a building – a tool – which we hope to use very effectively to attract the world to Christ. We will continue to walk in faith and trust God. His provisions, in His timing, will be enough.