Debt Free in 2023
Frequently Asked Question
Q: What is the purpose of the Debt Free 2023 Campaign?
A: The goal of the Debt Free 2023 Campaign is to raise around $1M so that we can retire our mortgage in 2023.
Q: How will retiring our mortgage now, as opposed to the end of the loan period benefit our church?
A: Retiring our mortgage now will have many benefits. First, it will relieve our church of the burden of huge monthly mortgage payments. Second, it will provide a huge saving on the interest on the loan to the tune of over $55,000.00. Third, it will free up money so that we can have resources to do ministry within our Church and in our community.
Q: Why are we embarking on this new giving campaign in the midst of a pandemic? Is this insensitive to the hardships that many of our members may be facing?
A: We understand that many people have been impacted financially during this COVID-19 pandemic and we continue to pray for the spiritual, physical, mental, and financial health and wellbeing of our members. Nevertheless, we believe by faith, that God can and will continue to provide for the needs of His people. We are asking you to take a "leap of faith" with us. We have structured this program so that there is a pledge level that every Covenant Disciple can feel comfortable with. We encourage you to commit to giving the best you can.
Q: If I start paying my new pledge amount now, will my previous payments to the building fund in 2020 be applied to this campaign?
A: No. The kick-off of the Debt Free 2023 campaign begins on Sunday, September 20, 2020, and will end on September 2023.
September 2020 to September 2021 - Year 1
September 2021 to September 2022 - Year 2
September 2022 to September 2023 - Year 3
Q: What if I don't want to participate in the Debt Free in 2023 Campaign but want to continue to give to the Building Fund?
A: The Debt Free in 2023 Campaign is replacing the previous "Building Fund". You can give to the Debt Free 2023 campaign at the same level you are giving to the Building Fund or you can modify your giving.
Q: If I choose a level now, can I change it to a different level later?
A: Yes. You may increase or decrease your giving level and complete a new Pledge card.
Q: Can I just give what I can because I am unable to commit to any of the levels right now?
A: Yes. You can give whatever you can now, but please fill out a Pledge card so that we will know what you can commit to giving. If your financial situation changes, please complete a new Pledge card.
Q: If we support the Debt Free 2023 Campaign, will that mean that we will not be asked to give any additional money during this period.
A: The money raised through your pledges to the Debt Free 2023 Campaign, will be restricted for use solely for the payment of our mortgage. However, you will still be responsible for paying your tithes and offering. Through our tithes and offering, we enable the Trustees to take care of the other financial obligations of the Church.
Q: If I want to keep my giving level confidential, will my request be honored?
A: Yes, we will keep your donation confidential if you make your wishes known to us.
Q: Has the church thought about refinancing the mortgage with the historic low-interest rates?
A: Yes, the church is looking into this matter and will keep us informed of their findings.
Q: Can we make our pledge and give as a family?
A: Yes you can.