SUPPORT THE FIELD OF DREAMS!
Over the last 20 years the long-time owner of our recently acquired “Field of Dreams,” (the 4 acres of empty field south of the Trinity’s front doors) has tried and failed to develop the land, primarily due to access issues. In 2020 Trinity’s Strategic Planning Committee saw an opportunity and formed a committee to try to buy the land.
After two years of active negotiation we purchased the 4 acres for $1.5 million, an excellent price, using $500,000 from an account created for future building expenditures plus a $1,000,000 loan at an initial interest rate of 3.96%. Our initial interest rate is very low, but it’s important to realize that the rate will change to a market interest rate in November 2025 (could easily double!) and will continue to be adjusted every three years, so we want to pay the loan off during the low interest period.
Why Do a Capital Campaign Now?
Timing is critical since the interest rate will change (and probably increase significantly) in November 2025. When we can pay off the land loan, we will be ideally situated to develop the land under our selected senior pastor.
Session approved a Capital Campaign Committee (see attachment for names and bios) to conduct the Campaign which we have named Trinity’s Field of Dreams. The Committee decided on a three year pledge campaign for $1.5 million (price of land) with the goal of paying off the land by 2025. The campaign will pay off the debt and restore the money from the Future Building Fund which was used to provide a 1/3 down payment.
The earlier payments are made the more the benefit to Trinity as it reduces the loan balance and the amount of interest paid by Trinity.
Is a $1.5 Million Campaign Realistic?
Trinity has an outstanding record in completing capital campaigns—we see the need and we meet it, as we did with Phases II and III of the building and with the Chapel Renovation.
This campaign is unique in having a matching gift program. Ten families believe so strongly in the future of Trinity that they have committed $350,000 toward making this campaign a success. For every $1,000 of pledges paid to the campaign, these members will give an additional $300, bringing your paid pledges of $1,000 up to $1,300. That means if we raise $1.15 million in additional paid pledges we will be able to pay off the total $1 million loan and replace the money withdrawn from the Future Building Fund so that we have seed money for development.
Frequently Asked Questions (FAQs)
Q: What will the 4 acres of land that we bought be used for? A: That decision has not been made. Until the loan is paid off, especially in the current market conditions, it isn’t practical for Trinity to do any significant new development. However the campaign provides a great background as church staff and congregational leaders develop future plans for Session and Congregational approval.
Q: Is a pledge for this Field of Dreams Campaign in addition to my annual Faith Pledge? A: Yes, this will be a separate pledge that you may pay over three years.
Q: Is there a recommended pledge amount? A: Yes, it is suggested each family prayerfully consider a 3% pledge of the family’s annual income for each of the three years or a total of 9% of average annual income over the three years.
Q: Can I make payments/gifts in different amounts each year? A: Yes, you decide when and how much to pay/gift each year. Of course, it helps to get payments on pledges as early as possible as that reduces the loan and interest costs.
Q: Can I set up recurring payments/gifts on Realm just like I do my Faith Pledges? A: Yes, that would be great!
Q: Can I pay in one lump sum? A: Yes, you could pay all of your pledge right away or pay it all later. However, it really helps Trinity to get payments on these pledges as early as possible as that reduces the loan and interest costs.
Q: If I pay $1,000 on my pledge how much will the Matching Gifts give to the Campaign? A: For every $1,000 you pay there will be an additional $300 given (from Matching Gifts) to the Campaign for a total of $1,300.
Q: Are all payments on pledges matched by the Matching Gifts? A: Yes, up to a total of $1.5 million. When payments/gifts of $1.15 million have been received along with the additional $350,000 of Matching Gifts we will have reached our goal of $1.5 million. Time to CELEBRATE! Any funds over $1 million will go into the Future Building Fund
Q: Do I have to pay in equal amounts over 3 years? A: No, you can pay based on your personal finances. Of course, it helps to get payments on pledges as early as possible as that reduces the loan and interest costs.
Q: I see the loan reprices in November 2025. Can I make my final payment in 2026. A: Yes, Trinity would love to have all the payments in by the end of 2025 but we realize that personal situations may require some families to make their final payment in 2026.
Q: Is my pledge to this campaign tax deductible? A: The payments are charitable tax deductions in the year the payments are made to Trinity. In some cases, your “Standard Deduction” may be greater than your itemized deductions including charitable tax deductions. Consult with your tax advisor or call one of the Trinity Treasurers.
Q: Can I use gifts of stocks/securities to pay my pledge for this campaign? A: Yes, that may be a great tax benefit for you also. Consult with your tax advisor or call one of Trinity’s Treasurers.
Q: Can I do a Qualified Charitable Distribution (QCD) from my IRA to pay my pledge? A: Absolutely, that is a great way to pay your pledge with big tax advantages for you. Remember, you can make QCDs for greater amounts than your Required Minimum Distribution (RMD). Consult with your tax advisor or call one of Trinity’s Treasurers.
Q: Where does my pledge payment/gift go after the loan is fully paid off? A: When that happy day comes, the remaining payments/gifts will increase or restore Trinity’s Future Building Fund which will be available to fund or make a down payment on future development.