What is the relationship between the ARISE One Fund and the current Building Fund?
The current Building Fund was opened upon the request of Immanuel members who were eager to begin giving to our future home. Money given to the Building Fund is restricted to that purpose only and will be used for that purpose. As we all give to the ARISE Fund, Immanuel’s Parish Council will periodically designate money from the ARISE Fund into the Building Fund so that we can together watch that number rise! These internal designations are more flexible because they can be adjusted if that is in the best interest of Immanuel.
Why are we raising money for a building now?
Immanuel is at a great time to be making the transition to a permanent home! At 11 years into this adventure, we have the leadership and financial structures in place to take this exciting step. We are also at a natural transition in our Sunday worship location as our time at 640 Irving Park is coming to a close apart from our decision. With our own building, we will no longer be vulnerable to the wide range of external changes that can result in the sudden loss of a worship space and the rising costs and limitations on rental sites.
With the increased stability of a permanent home, we can put a “stake in the ground” to be in Chicago shining the light of Jesus Christ for generations to come.
Why is my Commitment Card important?
November 17 is Commitment Sunday, when we invite everyone to make a bold and sacrificial commitment over the next two years of ARISE. Most importantly, they are a physical symbol of an ongoing inward commitment to the Lord through generosity. Commitment cards are valuable because knowing projected income 1) will help staff and parish council discern how to prioritize ministry over the next several years and 2) help us know what we can afford in a building. Banks consider pledged fundraising to be an asset in deciding how much to lend for a mortgage.
How did we decide on the amount $1.3M for the building?
Raising $1.3M towards a permanent home will put us in a strong position to be able to finance the purchase of a building. The $1.3M would be added to the funds currently in our Building Fund (approx. $385K) to enable us to make a good offer on a property that includes a substantial down payment and then an outstanding mortgage. A portion of the money raised would also be used to increase the amount of cash in reserve to responsibly plan for the costs of building ownership.
The goal took into consideration the financial capacity of Immanuel’s congregation and wider community. It is an amount that represents a sacrificial stretch, but that is within reach based on what the congregation has previously communicated.
How is Immanuel stewarding the money given toward a building while we are looking for a property?
Immanuel has placed the money in our Building Fund into investments earning between 4-5% interest. The money is invested in certificates of deposit with one of our banks in accounts referred to as “CDARS,” which allow all of the money to remain FDIC insured. As the money we are stewarding increases, we will continue to make wise investments so that funds are secure and growing. As of the start of the ARISE Initiative, prior donations to the Building Fund have already earned more than $14,000 in interest.
How will we be prioritizing ministries on the dream list?
The first priority for Immanuel’s future is going to be a secure place for our corporate worship. After that, Immanuel’s leadership teams will prayerfully discern together which initiatives will be pursued first. As always, we like to begin with smaller scale tests before committing to large-scale actions, experimenting creatively to discover which efforts help us to achieve the things we dream about.
Our first move will always be prayer. God’s guidance is never a “one and done” scenario – we are seeking Him as we look ahead and in every step along the way. Our greatest desire is to know and love God and to follow Him wherever he leads.