Our parish campus, like many of our homes, requires periodic repairs, renovations, and improvements, so that it may continue to serve the needs of our parishioners and our community. We are continuously meeting the needs of our parish campus, which always require replacement projects.

Our church roof was in need of extensive repair for a long time and was recently replaced this past year.   We conducted a Capital Campaign in the fall of 2020 for this endeavor,  securing a loan from the Diocese, with a three-year term, to pay for the project.  
 

Thank you for your prayers and participation in our parish's capital campaign.

QUESTIONS AND ANSWERS

Q. Will the option to donate via online through credit card or automatic debit be available?
A. Presently, online giving is not an option, but it will be set up and made available for the capital campaign and future use.

Q. Because the parish is conducting a capital campaign is the parish exempt from the Bishop’s Annual Appeal?
A. The first year any parish conducts a capital campaign, per Diocesan policy, the Bishop’s Annual Appeal goal is “guaranteed.” Therefore, our parish goal to the 2021 Bishop’s Annual Appeal (approximately $24,000) will be rolled into and fulfilled by the capital campaign. As a result, the parish will have two options for the 2021 Bishop’s Annual Appeal. The first option is to continue the standard Bishop’s Annual Appeal mailings. With this option, anything paid towards the appeal will be applied towards the “guaranteed” goal. Most parishes choose this first option. The second option is to be removed from the 2021 Bishop’s Annual Appeal mailings. Either way, the 2021 Bishop’s Annual Appeal goal is “guaranteed”. Also, the 2022 and future Bishop’s Annual Appeal mailings will resume as normal.

Q. Is there any potential revenue from Holy Spirit Church and Building?
A. There is a prospective tenant to rent the building which would provide additional revenue for the parish. Therefore, the maintenance of the building must be kept.

Q. How many registered parishioners are there?
A. There are slightly more than 900 registered households.

Q. Why did Good Shepherd Parish receive a loan in order to replace the roof?
A. Parish reserves were used in order to replace the skylight and pay three years of assessments. There are still parish reserves remaining. Although, there are neither not enough reserves to replace the roof nor would it be fiscally prudent to use all of the remaining parish reserves. The need to replace the roof is urgent. Therefore, Good Shepherd Parish is receiving a loan from the Diocese in order to begin the work immediately.

Q. What is the term of the loan?
A. The loan we received from the Diocese is a three-year term. We are fortunate that we do not have to make scheduled monthly loan payments like traditional loans. Rather, we have three full years to eliminate the loan payment, which greatly helps the parish finances as well as the ability to replace the church roof immediately.

Q. What is the benefit for Good Shepherd for receiving a loan from the Diocese?
A. The benefits are three-fold. First, in the aforementioned, by receiving a loan from the Diocese, Good Shepherd Parish is not bound by repayment terms from a bank. The terms of the loan from the Diocese are beneficial as there are no scheduled payments. The loan simply must be paid off in three years. Second, the parish would not be guaranteed an outside loan, from a bank for example. As a result, the parish receives the necessary funds to immediately begin addressing the replacement of the roof. Third, the interest on the loan is simple interest, which is more beneficial than outside loan structures.

Q. What happens if the parish cannot pay off the loan within the three-year term?
A. Due to the beneficial structure of the loan, the parish will make every effort to eliminate the loan within three years. However, if the loan is not eliminated in three years, the loan will convert to an amortizing loan with monthly principal and interest payments initiated by the Diocese electronically from the parish bank accounts.

Q. Is there a “rebate”/incentive if the loan is paid in full before the three-year term?
A. Presently, the benefit of receiving the loan from the Diocese is that there are no scheduled payments and that the loan has to be paid off in three years. Moreover, the interest on the loan is simple interest and does not compound, which also greatly benefits the parish finances. So, in addition to the aforementioned benefits of the present loan structure, the parish would have to inquire within the Diocese to determine if there are additional incentives should the loan be paid off before the three-year term.

Q. Is there a guarantee that the parish will not close?
A. Evangelization and expanding ministries at parish and diocesan levels are a priority of the Diocese. Therefore, the Diocese is committed to keeping parishes, such as Good Shepherd, open. Hence, that is the reason why the Diocese is lending Good Shepherd the money to replace the roof. Moreover, from a financial perspective, the Diocese is issuing a loan to Good Shepherd with the agreement that it will be paid back. As such, there is neither indication nor discussion about the parish closing. It is very rare and extremely uncommon that parishes close after a significant capital project, such as a roof replacement, and/or after a capital campaign.