Financials

On June 5th, the congregation authorized expenditure of $176,000 for work necessary to answer the questions necessary to evaluate the potential purchase. Costs through October 31 are approximately $100,000 and include the following:

  • $25,000 – purchase earnest money
  • $44,000 – land use permitting consultants and County fees
  • $4,500 – real estate attorney
  • $1,500 – due diligence (see item 6 above)
  • $12,000 – remodeling/renovation conceptual design
  • $13,000 — capital campaign advisor

Additional costs will be incurred to complete the land use permitting, access and parking agreement and capital campaign. However, total costs will not exceed the $176,000 authorization.

Based upon the pledges for 2021-2022, the anticipated capital campaign expenditures in 2022 are as follows:

$325,000 – purchase closing

$176,000 – Reserve Fund repayment

$31,250 – realtor’s fee

$10,000 – mitigations required by land use decision

$18,000 – south wall repair and paint entire building exterior

$30,000 – HVAC systems repairs

$441,000 – sanctuary remodeling/renovation

$50,000 – contingency


$1,081,250 – 2022 Total

Additional remodeling/renovation will occur in 2023, 2024 and 2025. The work may occur earlier if donations exceed present 2021-2022 pledges of $1.085M. The following projects and likely costs are possible:

  • Upgraded kitchen — $75,000
  • Windows in sanctuary south wall — $75,000
  • Entry Porte Cochere — $70,000

Direction on Remitting Pledges

   Outlined below is the process that you will use to remit your pledges.

Transfer of Assets

Inform your financial advisor of your intent to transfer assets.  

  1. There is an asset transfer request form included with this update or your financial advisor may have a form they prefer to use.
  2. Provide your advisor with the following information.

CAPSTONE WEALTH MANAGEMENT
Sunriver Christian Fellowship Account
1051 NW Bond Street, #200
Bend, OR 97701
Account Number: 4V V039994   DTC: 0443
Contact: Michael Conrads | 541-330-0266

Regardless of the form used, send a copy of the Transfer Request form to Capstone and the SCF Treasurer or the Chair, SCF Capital Campaign.

Payment with Checks

  1. Checks should be made payable to the “SCF Capital Campaign” with “2021 Pledge Payment” in the Memo Line
  2. Checks can be mailed to SCF with “Capital Campaign” written on the envelope, dropped at the SCF office, and put in the Sunday Offering plate

Acceptance of Pledge Payments Prior to Congregational Approval

Because we are providing the opportunity for you to remit payment of your pledge prior to final congregational approval to purchase the Fitness Center, you will have the following options for disposition of your payment should the approval fail:

  1. You can request a full refund of your payment.
  2. You can request that the monies be used for a designated purpose, i.e., the Endowment Fund, UPCAP or other SCF ministry

You can request that the payment be held in escrow and used to offset your annual Stewardship giving.

Make a Contribution