Effective August 1, 2021, we will begin paying our mortgage and facility improvements and/or maintenance from the General Fund. In the past, these expenses have been handled through the Building Fund, or (more recently) the Capital Fund. If you’ve supported either of these funds, or are just curious to learn more, please read further.
- Why are you making this change? This idea was actually suggested years ago, and we’re able to implement it now that the recent Capital Campaign is over. This change will help streamline and simplify our bookkeeping practices.
- Are we done with our mortgage? No. We are still paying a monthly mortgage (around $1.2 million at this time), and will still budget annually for facility maintenance. We will just allocate these payments from the General Fund beginning next month.
- What about long-term care for our facility? It will be even easier to have reserves set aside for the long-term care of our property once we streamline our fund structure. Instead of needing different pockets of “rainy day” savings, we can target the funds where they’re needed most.
- What if I give regularly to the Building or Capital Fund now? We will continue to honor your intention for your gift, but starting August 1, 2021 these gifts will be applied to the General Fund to help pay our mortgage and facility improvements and/or maintenance. It would help us simplify our work if you gave all of your gifts to the General Fund directly. See below for making changes to your online giving.
- Why should I give to the General Fund? Giving to the General Fund is the best way to support all the ministries of Shepherd of the Valley, since this one fund not only covers our operational expenses, but also budgets for community benevolent giving with room to respond to urgent needs when they arise.
- Do I need to change my Simply Giving or online giving? It would help us to streamline our bookkeeping processes if you would. If you give through Realm, you can see and change your giving amount, funds, and frequencies any time. Here is a link to a short video if you’d like to learn how to make that change. We’d also be happy to help you individually, and can talk on the phone or meet with you in person – whatever’s easiest for you.
- What if I have more questions? Please feel free to contact our Finance Manager, Dawn Della Paolera, at 952.985.7315 or dawn.dellapaolera@sotv.org.
Thank you for your generous support of Shepherd of the Valley and the many ministries that help us grow and live into our faith!
