What are the ways to giving to the “Seek First” campaign?
Similar to regular giving, we have the following options available:
- Cash or Cheque in a “Seek First” Envelope found in the seat backs; write “Seek First” in the memo field on your cheque if not placed in a “Seek First” envelope
- Cheques can be made out to “Hope Bible Church Oakville”
Can I give to “Seek First” anytime or are there designated times to give? How long is this campaign running for?
You can give to the “Seek First” campaign anytime. The plan is for the campaign to run from 2018 through to the end of 2020.
Can I just redirect my current giving to “Seek First”?
The “Seek First” campaign is intended to be above and beyond regular giving so as not to negatively affect the operating budget of the church. As you prayerfully consider giving to the “Seek First” campaign, may the Lord lead your decision to give.
Why are we pledging?
The desire of the Elders is that giving to this campaign would be a spiritual exercise. This means a decision to give to this campaign over and above regular giving would come out of a time of prayer, and that by pledging you are making a commitment between you and the Lord.
What exactly is my donation going towards?
Donations to the “Seek First” campaign will be used to Decrease our Debt, to see Increase for the Kingdom. By paying down the principal amount of the mortgage on the Hope church property on Great Lakes Blvd, this will free up funds from being used to make mortgage payments to instead be used for other kingdom-advancing work. The Elders will decide how to direct these funds to best address these priorities.
If the campaign raises more than enough to fully repay the mortgage, the excess will be applied to other kingdom-advancing work.
All kingdom-advancing work will be determined by the Elders, consistent with Hope’s charitable objects. Examples of such work could include: developing a pastoral residency program, funding in-depth internships, providing theological training, increased global church planting spending, sending mid and long-term missionaries to the field and increased generosity towards the strengthening of other churches.
How much do we hope to raise?
While we haven’t set a specific target, our desire would be to see the balance of the mortgage paid off which, as of the start of this campaign, is just over $7.5 million. This amount translates to approximately $800,000 per year in principal and interest payments. How exciting to think of $800,000 being directly utilized for gospel advancement. The more funds raised, the more kingdom impact!
Can we pay down the mortgage all at once, or are there restrictions on that?
Our mortgage is set up in five individual tranches, which means we regularly have portions of the mortgage coming due; this gives us the flexibility to pay down large portions without penalty. Early 2019 gives us an opportunity to pay down approximately 40% of the mortgage without penalty. Additionally, we can prepay without penalty up to 10% of the original tranche values per year. Above and beyond that, additional payments will need to be assessed to determine the early payment penalty versus the cost of interest, and a wise decision will be made at that time.
Are we still considering building phase two? And if so, would we consider taking on debt again to build that?
We’ve spoken about the possibility of phase two for some time now. The building as it stands today was built with a second phase in mind. As of this moment, the Elders do not have a clear sense from the Lord that we are to move ahead. That said, we are not dismissing the possibility that the day may come when the Lord leads us to build phase two. It’s important to note that while this campaign seeks to eliminate our current mortgage, it does not imply that a reasonable amount of debt financing for kingdom advancement efforts in the future wouldn’t be prayerfully considered.
In light of this campaign launching in November, are we still doing a Christmas offering this year?
We’re not going to do what we have traditionally done with regards to a Christmas offering. However, donations made to the “Seek First” campaign in 2018 will release funds that would have been used for mortgage payments; these funds will then be freed up for kingdom work. Therefore, consider the “Seek First” campaign as the destination for giving that would have otherwise gone towards the Christmas offering.
Who do I contact if I have more questions?
Please email us at [email protected] or call the office at 905-827-4888