Money Matters 3/1/2025

Dear Members and Friends,

Please keep those capital campaign donations coming! Read more to see why….

With elevator parts sitting in the Palmer Room, it seems like a good time for an update on the Capital Campaign.  

Total Capital Campaign Pledges (2021-2027):        $973,317

Expected Pledges (after 5% haircut):                         $924,650

Total Donations to date :                                              $852,647

Total Capital Campaign Expenditures To Date:      $663,853

Remaining Capital Expenditures:                               $270,316+

Total Expected Capital Campaign Costs:                   $934,169

Expected Deficit                                                               ($ 9,519)

The remaining contracted work with our general contractor is $170,616 and we expect this work with the elevator, ramp, east entryway, loft, etc. to be done by June 30. In addition, we will need $40,000 for windows in the Loft, $12,300 to complete the fire alarm system, $31,000 for east side masonry restoration, $10,400 for the architect and $6,000 for garden/shrub restoration. The garden number will not be sufficient.

We have enough cash from capital donations to just cover our contract with Mirek. The Board agreed last fall to use $30,000 from the Fleishman fund for the masonry work. We are counting on capital pledge donations and a bank loan to cover the approximately $75,000 in remaining expenses listed above. Remaining capital pledge payments are needed to minimize bank borrowing and ongoing interest expense.       

Is this the largest capital campaign in 2U history? In dollar amounts, yes. However, in inflation adjusted dollars the campaign in 1988-90 which cost about $500,000 would be in the range of $1,310,000 today. That work created the church as we know it today with a new  basement (offices, classrooms and restrooms) under the sanctuary, removed the pipe organ, and reversed the location of the chancel and pulpit and more.                             

Respectfully submitted, 

—Tom Denio, 2U Treasurer

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Mental Health Moment 3/1/2025