UPDATE 04 - Initiative Results!
by Stephen Wood
Hey all! Sorry for my delay in giving you all an update on the latest for Project Sanctuary. My daughter was born the day after my previous post, so I’ve been blessedly busy :)
On Sunday, April 7, we made the big announcement. Between gifts and pledges, we have received around $1.4 million for Project Sanctuary.
I am stunned that God has provided so much. I am humbled by the generosity of many families– on our Pledge Day on March 17, many more families committed larger gifts than they have ever given before. For months, I have prayed that God would open the vaults of heaven and rain down us all that we need. When I look at this number, I am reminded that he continues to do just that.
Our goal for Project Sanctuary is $2 million to cover paying off and renovating the building. So isn’t $1.4 million bad news? Didn’t we fall short of our goal?
We did fall short. But this number is still enough for us to keep moving forward. Here is how that will work:
The $2 million goal was based on the combined cost of us paying off the building (approx $800k) and the larger estimates we had received for renovations (approx $1.2 million). We set the bar high. Because we got to $1.4 million, we will likely have to delay paying off the mortgage for the building. This news isn’t terrible: we have a mortgage with good terms and a reasonable monthly payment. (For perspective, our monthly payment is just over half of what we were paying in our final years at 2424 Studios).
Most importantly, hitting $1.4 million is a green light for renovations. Of the $1.4 million, we have already spent around $300k to close on the building, do inspections, perform demolition, hire an architect, and hire other professional services. This leaves us with a renovations budget of over $1 million. This number is a green light to keep pushing forward with renovating and getting Liberti into the building. It’s really good news!
And lastly, Project Sanctuary is a three-year initiative. Though we are at the end of the window where we asked for pledges from our congregation, there will be many more opportunities for people to give in the years ahead. And, if you haven’t pledged, it isn’t too late! You could send your pledge directly to me (swood@liberti.org). From there, you can still start giving at the Project Sanctuary site. Join us in praying that our number goes up as we continue to fundraise, especially through the remainder of this year.
In sum, $1.4 million is very good news. Thank you to those of you who pledge to pray and give! I hope that, like me, you feel like you are part of something big that God is doing in our church and neighborhood.
I can’t wait to see what more God has in store! In my future posts, I’ll give you all updates on our progress with our architect as we map out the design of the renovated space.
It’s a joy to live, speak, and serve as the very presence of Jesus alongside you. Thank you! And praise the Lord. And, as always, don’t hesitate to reach out if you have any questions.
-Stephen
