For the past three weeks, we’ve shared the projects that we are supporting with the 1st $100,000 of our offering. After we get that first $100,000 we are going to tackle the 2nd $100,000. We want to reduce the principle on our mortgage.
We’ve carried a mortgage for the last 15 years – it is what we used to finance and build the Student Center. While we are extremely grateful for the Student Center and love the space for ministry that building provides for us, we are within striking distance of being debt free as a church!
Remaining on our mortgage is about $770,000. This may sound like a lot to you. Based on our current budget will have that paid off in four years. We are really excited about that, but we also would love to accelerate that plan so we can free up more money for more missional ventures.
If we are able to pay an extra $100,000 this year, that will save us $50,000 of interest over the next four years and free up $150,000 for ministry in the 4th year (2021-2022).
Here are the other posts about what we’re doing with our Christmas Offering.