Capital Campaign

September 29, 2008

Dear Friends in Grace,

Since we launched More Space for Grace in April, members of the Campaign team have had the opportunity to speak personally with over 250 Grace families, sharing stories of what Grace means in our lives. In these conversations, we have been struck with the variety of circumstances and perspectives that are represented within Grace, and we have marveled at our universal belief that Grace is a very special place and community.

The team that conducted the More Space for Grace Capital Campaign would like to thank each of you for finding the time to learn about the Campaign, to share your stories with us, and to reflect on the value of Grace in your lives and the lives of others.

And of course we’d like to thank you for your pledge. To date, 173 Grace families have made a gift or a pledge to More Space for Grace. Of these, more than 100 families are giving to a Grace Capital Campaign for the first time.

Our results to date are summarized in this graph:

We are thrilled that so much has been achieved in this Campaign, even as the general economy has struggled.

The first goal of More Space for Grace is to eliminate the debt that still remains from the original Campaign to build the church, and to complete some critical landscape, drainage, and irrigation projects. The budget for this is $482,000. We have fully met this goal. In fact, when all the gifts that are pledged for 2008 are received, we will be able to retire this debt and fund these landscape projects by the end of 2008.

The second goal of More Space for Grace is to raise the funds we need to construct a chapel — part of the original master plan—that is important to expanding the ministry of the Church, and to add needed office space and a walking trail around Graceland. The budget for these enhancements to our current facilities is $1,080,000. Our goal was to achieve this with pledges for the years 2009 and 2010. Pledges for this period total $765,334 (71% of our target).

The Bishop’s Committee has reviewed these and has approved the following course of action:
As soon as possible, pay off all of the debt ($440,000). Roughly half of this debt is in the form of a loan from the Diocese of Olympia. All but $40,000 of this loan has already been repaid. The balance of the debt is in the form of bonds held by Grace families. As 2008 pledge payments are received they will be used to retire these bonds.
As soon as possible, complete critical landscape infrastructure projects ($42,000).
Revisit one more time the cost estimates for the Chapel/office expansion project. With a slow construction market and the constraints of our available funds, we will re-examine the Chapel project with the objective of reducing construction cost.
Proceed in 2009 with constructing the trail system. This is a relatively low-cost project, and could possibly be completed under budget if a significant volunteer labor effort can be used.
Continue to believe in the generosity of the family of Grace. We will not re-solicit Grace families for further pledges at this time. But history has shown that generous gifts come to Grace from time to time. When received, these will be added to the More Space for Grace fund. The day will come when the size of the fund is sufficient to build the Chapel and expand our office space.

Once again, the people of Grace have demonstrated their faith and their generosity when asked to do so. On behalf of the entire More Space for Grace team, we would like again to express our deepest thanks to all for supporting More Space for Grace.

Don Warkentin

Barbara Jeantrout