What is LCEF? Lutheran Church Extension Fund (https://lcef.org/) offers funding and financial solutions in service of the church’s mission and goals. They are helping us secure funding for this project.
Are there any formulas that other churches have used to help advise their members as guidelines when considering what to give? Yes, LCEF suggests the following formula: (usual giving) multiplied by three divided by five (paid out over five years). e.g. Smith family gives approximately $2,000 annually, multiplied by three is $6,000 divided by five = $1,200 +$2,000 = $3,200 total contribution each of the next five years. So, the Smith family might give an extra $1,200 a year.
Ultimately, what any member gives is a matter of their own piety! Our joyful gifts are always enough!
Can you walk me through, step by step, what the next financial steps are? First off, as we said in our letter, we need to raise $450,000, as a “down payment” and timing matters. A lot of our projections are based on numbers that could go up in a matter of months. We’d like to get a cash balance of $450,000 by December 31, 2025. That number gets the ball rolling for the project. At the same time, we will be asking families to consider what their pledges for the project might be. Once we have our pledge forms in hand, that will be our loan with LCEF, and as those pledges are met, the loan will be paid off.
How will the proposed loan work? The Church has the ability to take out a 20 year loan from LCEF to help fund the project. The congregation would then use operating funds to repay this debt, which would likely require reduced discretionary spending.
How accurate do you need members’ pledge forms to be? Accurate! Our membership’s pledged gifts are going to help dictate the scope of the project we are able to take on. We’d ask members to only pledge what they feel called to give after careful financial consideration and prayer.
What if I pledge a specific amount but my financial circumstances change? We can’t stress this point enough: our membership’s pledges are going to dictate whether or not we can do this project. That said, financial circumstances can and do change. We will not be chasing anyone down to fulfill their pledge.
Is my gift anonymous? Donations and pledges will be treated similarly to how tithes are treated. Your tithing envelope number will be associated with your donations and pledges and the same attempts given to your regular weekly offerings to preserve privacy will be afforded to these gifts as well.
Can the church help me track whether or not I am on track with my pledged donations? Yes, if there is an appetite for it, we can provide regular updates to families who’ve pledged money.
How can I make donations? You can give online, or put your gifts in the offering plate.
Gifts towards the initial “down payment” can either be made on our website at www.oursaviorwfb.com/renovations, or be placed in the offering plate before December 31st. Please note “Building fund” on the memo line. All gifts received by year end will be added towards the down payment goal.
Gifts towards your annual pledges will begin in 2026. You can also make those gifts on our website or put them in your offering envelopes and place them in the offering plate. You will receive six envelopes with your offering envelopes designated specifically for the building fund. You may use these, or your regular envelopes and write “Building Fund” on the memo line.
What if we don’t raise enough money— what happens to the donation I’ve already made? In the event we do not raise the $1.7 million, we could implement some, but not all, phases of the project. We would need to discuss what that would entail at future voter’s meetings.
What about building and design decisions (i.e. painting on ceiling in sanctuary or flooring finishes in downstairs bathroom)— have those been made yet? No. Once we reach various fundraising benchmarks, we will take those kinds of questions to the voting membership.
