We are now debt free! At our August congregational meeting, we voted to allocate $50,000 of the 171 funds to pay off the remainder of our $1,000,000+ loan on the gymnasium building. This is huge for us and opens up opportunities and budget money for new mission and ministry.
It would not have been possible without the generosity of God’s people the past eleven months. Thank you!
We are working on plans to celebrate this enormous milestone with the congregation. More information will be out very soon.
Becoming debt-free has been very important to for us. First and foremost, this is consistent with God’s Word which says, “Owe no one anything, except to love each other…” (Romans 13:8) Alongside this, every dollar not spent on debt servicing is a dollar for enhancing ministries and starting new ones. Before now, we spent 9.1% of our giving on debt payments—about $70,000 annually. Imagine what God will do in and through us now that we aren’t sending that money to a bank!
How to Help
We will not be collecting pledges or commitments for this initiative. Rather, we encourage you to prayerfully consider what God is inviting you to do—and do that. There are a number of ways you can support our journey towards becoming debt-free. Here are some:
- Continue giving to Mission and Ministry, just as you’ve always done. As part of our normal operations, we reduce principal by around $5,200/month.
- Add an ongoing gift for debt reduction. Even an increase of a couple dollars/week will accelerate our debt reduction effort. You can give online at FTGives.com or by marking your check/envelope “Debt-free in 23”.
- Make a one-time gift for debt reduction. An upfront gift will make each monthly payment more effective as a greater percentage will go to principal instead of interest. Give cash or check in-person, ACH (preferred) or Credit/Debit online, or donate stocks directly to the church. Contact the church for more details on stock donations.
- Give your time to other efforts. We will periodically need volunteers to help with the debt-free journey. If you’d like to donate in this way, contact the main office to get added to the list. This might include sending out letters or helping communicate progress in other ways.
- Spread the excitement! Have conversations with others about our progress. Celebrate what God is doing. Dream about what’s possible and share it with others!
We’re excited for this journey! You will see progress posted here monthly. Thank you for prayerfully considering your involvement in this great effort and your partnership in ministry here at First Trinity!