Capital Campaign
December 31, 2017, marks the end of our third three year commitment Capital Campaign. Our building loan started in January 2011 with a loan amount of $3,068,260.67. As of this month, we have paid over half the mortgage with a current balance of $1,411,931.01. Thank you for your generosity and devotion to New Providence and its ministries! Although the official Capital Campaign ends this year, we still have way to go. Check your end of year contribution statement for your pledge balance, and if you didn’t pledge, you can contribute anyway. We have continued to receive gifts to the building fund through new members, memorial contributions, and our congregation continuing to give even beyond their original pledge. Because of these gifts, we have not had to run our mortgage payment through our operating budget. In fact, we currently have a two year reserve fund to make our payments. Our loan interest rate is fixed until March 2020 when we will almost certainly be in a higher interest rate environment based on the Federal Reserve’s most recent rate hikes, and what they anticipate in 2018 and 2019. Your gifts to our Building Fund assure that the church will continue to allocate its resources to ministry, not interest payments. Thank you, again, for what you have given, and please prayerfully consider continuing your gifts to our Building Fund.
Peace in Christ, Andy Luttrell,
Treasurer, New Providence Presbyterian Church