Fr. Lucas:  We need to pay off our mortgage/loan debt the same way you need to pay off your mortgage at home: that’s what our ongoing Capital Campaign is for. The Annual Fund and other school fundraisers add to our school’s funding for salaries, supplies, and programs; it’s like money you put aside for your household expenses. Both are necessary.

The Capital Campaign is a distinct fundraising activity.  It is a joint endeavor between the parish and school to reduce and eventually eliminate our loan debt for the new school and parish offices. The new school building and facilities were about 80% of the cost of the project and the new parish offices were about 20%.  

Fr. Lucas: This second phase of the Capital Campaign has been scheduled since 2017. Our first five-year pledges are nearly paid off, and with a little breather after COVID, we launched into the quiet phase of Capital Campaign 2 last October. Interest rates are increasing quickly. The sooner we are free from the debt and interest payments, the sooner we can reinvest in new programs, staff, and improvements.

Fr. Lucas: This is absolutely NOT the case. In this round of fundraising, about 25% of our pledges/gifts have been received so far from active school families, and 75% from parishioners, some of whom are alumni or grandparents.

We began the school public fundraising phase at Back To School Night on August 17.  For the parish public fundraising phase, there have been two sizeable announcements to parishioners in the bulletins and on the church website.  This will continue.  A major push to parishioners will come over the next two Sundays when we will make direct appeals at every mass. We’re asking everyone to help out.

Fr. Lucas: We got special permission from the Diocese to use reserve funds generated by the school’s endowment for these needed improvements. No Capital Campaign or Annual Fund revenues are being used. Our loan contract stipulates that we cannot engage in fundraising for any major capital projects until and unless the debt is repaid in full. 

Fr. Lucas: I wish I could tell you. The short answer is “The sooner, the better.” It depends on this campaign. We’d certainly prefer not having to come back to you again in a few years.  Our total project was $12.2 million. Phase 1 paid down $7.2 million through September 2022. Since then, we have raised more than $3 million ($1.7 in pledges, and $1.3 in cash from one-time gifts and other sources). That means we still have to raise another $2 million to liquidate the entire debt. Remember that each year both the school and the parish are committed to pay $190,000 ($95,000 each) to keep on top of interest and to continue to nibble away at the principal.

Fr. Lucas: If you can, please make a meaningful gift to the “Our Future, Our Faith, Our Time” Campaign: a 5-year pledge or a one-time gift. Continue to support our school’s other activities too. And please, pray for the important work we are sharing. We are very grateful for your generosity.  If you have further questions, my door is always open.