In 2011 Hillside Covenant was spending over $270,000 a year to pay its mortgage and that obligation would continue for another 14 years. Worse yet, this annual obligation was likely to weigh even heavier as interest rates increase in the future. The burden of Hillside’s $2.7 million mortgage was weighing heavily and the thought of how we might better use interest payments to further God’s kingdom led the church to initiate the “Free To Serve” capital campaign.
By paying down the mortgage faster, Hillside will reduce its interest payments on its loan and free up those funds for other ministry works. 2012 marked the first year of a three-year campaign. The goal was to raise $1,500,000. To be faithful to the value of tithing, it was agreed that 10% of the funds raised would be set aside for special mission giving.
After the first year of the campaign, donations received totaled over $530,000. Outstanding pledges and donations were approaching $1,200,000. Hillside’s mortgage balance had dropped to under $2.1 million and the monthly mortgage payment had been reduced enough to free up over $40,000 a year for ministry. $53,000 of additional mission funding has been raised as a result of the campaign.
We are off to a great start, but even now the remaining mortgage balance is substantial. Please consider supporting the Free To Serve campaign and Hillside’s drive to remove the burden of its mortgage. Here are five ways to contribute:
1)Write a check and designate it for “Free To Serve”, 2) donate stock or real estate, Capital Campaign Stock Instructions.pdf (72.8 KB) 3) donate an old boat, RV or vehicle that you want to get rid of, Car Donation Services 4) donate E-waste (Yes, people will pay us for your broken electronics), E-Waste 5) purchase gift certificates on-line and 15% of your purchase will go to Hillside Gift Certificates
If you have questions or need further assistance, please contact David Doeringin the church office.