The Bible encourages us to live free from debt. “The borrower is slave to the lender.” Proverbs 22:7. It is our goal with this ReNEW! Capital Campaign to free ourselves from our burden of debt in order to be better equipped to support our church’s growing ministries.
Where are we and how did we get here?
- A little over ten years ago ECC sought to better serve the community and expand its ministries by building an activity center and youth facilities, along with a new entrance and lobby.
- In order to complete these projects ECC took out a mortgage which currently has an outstanding balance of 1.4 million.
- The debt costs ECC $158,000 a year. $5,200 each month goes solely to paying interest.
- We made a commitment to the bank to retire this debt in 5 years and it has now been 10+.
Where are we headed?
- With this campaign we seek to completely retire our mortgage debt.
- Retiring the debt will leave us with $158,000 less of obligated expenses annually.
- This financial freedom will allow us as a congregation to better respond to future ministries and equip us for the future work God has for us.