At the February 24, 2013 Parish Assembly, the Building Fund Committee members and its Mission Goals were introduced. The members are Theky Pappas, Crist Frangakis, Charles Roupas, Alex Arapoglou, Larry Odzak, Peter Marinos, and Helen Paliouras as chairperson. The three Mission Goals were identified as: (1) sustain monthly mortgage payment; (2) create a Contingency Fund for emergencies; and (3) plan and implement a multi-year pledge campaign for all needs covered by the Building Fund, with the official kickoff being in September 2013.

At this meeting the differences between the existing Stewardship Fund and the re-emergence of the Building Fund (which existed up to 2011 but not in 2012) were explained:

• Stewardship (or Operations) Fund covers day-to-day expenditures such as utilities, payroll, insurance, ground and building maintenance, etc. (All donations to Stewardship are strictly confidential.)
• Building Fund covers the monthly principal/interest payment for the mortgage, funds major capital improvements and new construction. (Donations to the Building Fund will be confidential only by request.)

If you have questions or would like to learn more please contact any of the above Building Fund Committee members.

Guidelines Governing the Usage of Funds Donated to the “Building Fund Campaign, Phase II”

The Building Fund Campaign, Phase II, as presented to the February 24, 2013 Parish Assembly has been charged the following mission:

1. To sustain the monthly mortgage of $16,303 to BB&T.
2. To create a Contingency Fund of up to $200,000 for emergencies
3. To plan and implement a multi-year fundraising campaign for all the needs covered by the Building Fund.

Established by the Parish Council, the Building Fund Committee (BFC)

recognizes the need for appropriate Guidelines, which will govern the usage of the funds raised during the period of the campaign.  The Building Fund is for meeting such needs as paying off the monthly mortgage, providing funds for renovations and/or significant capital improvements, and for future new construction.  In addition, the BFC is charged to create a Contingency Fund (under the umbrella of the Building Fund) that will strictly be used as emergencies arise, such as building maintenance issues or when there’s a shortfall in the monthly mortgage payment to the bank.  

A donor may elect to pledge to either one or both of these funds.  Independently of the choice made, the grand total of one’s donation will be what is credited to a donor’s giving record towards the Phase II Building Fund Campaign.  For example, if one donates $5,000 to the Contingency Fund and $15,000 to the Building Fund, it is the grand total of $20,000 which determines the donor’s level of giving.

The Building Fund is primarily responsible for covering the monthly mortgage payment; any needed renovations or improvements; and any future new construction. 

The guidelines to be observed in the usage of these funds are:

1. Donations made to the Building Fund are normally not restricted by the donor. However, if the donor wishes to impose restrictions,  then the donation must be negotiated with the Parish Council, under the existing guidelines governing “Restricted gifts or Appointments”.
2. The use of these funds for purposes other than mortgage payments must be approved by a 2/3’s majority vote of the Parish Council.  NOTE: Mortgage payments are paid routinely and do not require Parish Council approval.
3. Donations to the Building Fund will be made primarily through fulfilled pledges.  There will be occasional fundraising occasions, such as dinners and other activities, sponsored by families, church organizations and/or other groups for the benefit of the Building Fund.  Funds generated by such activities will be regulated as follows:  (a) The Building Fund shall accept the net proceeds of such activities; (b) the donation shall be deposited in the Church Building Fund account in the name of the fundraising activity (for example, GOYA car wash); and (c) neither the individuals supporting the fundraising activity nor its sponsors(s) and/or host(s) may claim their individual contributions as being a donation to their personal Building Fund pledge.
4. The Church Treasurer makes all deposits of funds, maintains an accurate record of all transactions, and acknowledges the initial pledge with a receipt.

This fund is for unforeseen emergencies as defined by the Parish Council.  In such transactions, the following guidelines shall apply:

1. Each such transaction represents a “loan” from the Contingency Fund to some other church fund.
2. The “loan” shall be repaid to the Contingency Fund within an assigned period and under terms as specified by the Parish Council.
3. The Parish Council must approve by a 2/3’s majority vote all such “loan” transactions.
4. Funds donated to the Contingency Fund cannot be restricted by the donor.
5. The Church Treasurer makes all deposits of funds, maintains an accurate record of all transactions, and acknowledges donations with a receipt.

$100,000 and over:    Benefactors

$ 50,000 to 99,999:    Pillars

$ 25,000 to 49,999:    Supporters

$ 10,000 to 24,999:    Patrons

$   1,000 to   9,999:    Providers

$          1 to      999:    Friends