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SAINT ATHANASIOS CAPITAL CAMPAIGN

The Capital Campaign is a long term three phase plan to eliminate barriers and plant seeds, to achieve our goal, “So that all may be saved and come to the knowledge of truth”

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PHASE ONE

The Phase One Goal is to raise additional money above and beyond stewardship in order to pay off the mortgage by June 2025, the Church’s 60th anniversary. Our goal is $200,000.

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PHASE TWO

The Phase Two Goal is to identify the structural needs of our current building and to develop and execute a plan to meet those needs. 

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PHASE THREE

The Phase Three goal is to thoughtfully reflect on how to best plant and nurture the seeds of the future using all of our assets including the vacant land.  

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WHY DO WE NEED A CAPITAL CAMPAIGN

In order to achieve our goal, “So that all may be saved and come to the knowledge of truth”, we need to place our Church on a sound financial footing. This includes eliminating the barrier of our current mortgage and planting seeds by identifying the structural needs of our current building, and developing and executing a plan to meet those needs. Once we have achieved these goals we can begin to think about the use of the additional property and how we will pay for whatever we decide to do with the property. 

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GIVE ONINE

To make an online donation towards the Saint Athanasios Capital Campaign click the button below.  Please fill out the Capital Campaign Pledge Form before making your donation.

MAIL PLEDGE PAYMENT TO:

St. Athanasios Church

1855 E. Fifth Ave. Aurora, IL 60504

CAPITAL CAMPAIGN PLEDGE FORM

Payable:
Method of Payment:

Thank you for your support!

FREQUENTLY ASKED QUESTIONS

  • What is the Capital Campaign?
    It is a long term three phase plan to: 1) raise additional money above and beyond stewardship in order to pay off the mortgage by June 2025, the Church’s 60th anniversary; 2) to assess the current building’s needs/repairs and to meet those needs; and 3) to begin to think about the use of our vacant property next door and how we will pay for whatever we decide to do with the property.
  • Why do we need a Capital Campaign?
    In order to achieve our goal, “So that all may be saved and come to the knowledge of truth”, we need to place our Church on a sound financial footing. This includes eliminating the barrier of our current mortgage and planting seeds by identifying the structural needs of our current building, and developing and executing a plan to meet those needs. Once we have achieved these goals we can begin to think about the use of the additional property and how we will pay for whatever we decide to do with the property.
  • What are the three phases?
    The Phase One goal was to raise additional money above and beyond stewardship to pay off the mortgage. In January 2024, the mortgage balance was approximately $200,000 which was our Phase One goal. The Phase Two goal is to identify the structural needs of the current building, what major repairs are needed and to develop and execute a plan to meet those needs. The Parish Council is currently identifying how much the building repairs will cost but early estimates indicate that replacing three of our existing HVAC units will cost over $240,000. The Phase Three goal is to plant and nurture the seeds of the future through the use of the vacant land, what we want to do with the vacant land and how we will pay for anything we decide to do with it.
  • Are we done with Phase One of the Capital Campaign? Did we meet our Phase One goal?
    The Phase One of the Capital Campaign should be completed prior to January 2025. And, yes, we will achieve the Phase One goal of paying off the mortgage by the Church’s 60th Anniversary. Amazingly, we will have the mortgage paid off by January 2025 at the latest; over 6 months ahead of schedule!
  • I thought we needed to raise $200,000 to pay off the Church’s mortgage?
    The Phase One goal was to raise $200,000 to pay off the Church’s mortgage. When we began Phase One of the campaign in January 2024, the mortgage balance was approximately $200,000.Over the next year, we raised over $147,000 which we used to pay down the mortgage. In addition to this amount, we continued to make our regularly scheduled principal and interest payment and the previously voted upon extra principal payment of $1,000 per month. It was the combination of these items that has put us into a position to pay off the mortgage by the beginning of 2025 if not sooner. We are over six months ahead of schedule!
  • Did we use money from the Operating Account to pay off the mortgage?
    Since beginning the Capital Campaign in January 2024, the only money used from the Operating Account to pay off the mortgage was the previously voted upon extra principal payment of $1,000 per month and our regularly scheduled principal and interest payment.
  • Did Stewardship decline during Phase One? Did donors cut back on Stewardship and instead donate to the Capital Campaign?
    No, Stewardship was not affected. In fact, the amount given to Stewardship actually increased in 2024.
  • Since the mortgage will be paid off by January 2025, is the Capital Campaign over?
    No, it is not over. The Capital Campaign needs to continue for the foreseeable for us to reach our Phase Two goals.
  • If we paid off the mortgage, why do we still need the Capital Campaign?
    As you may recall, the Capital Campaign was three phases. We are now entering Phase Two. In Phase Two, we need to identify the structural needs of the current building, what major repairs are needed and to develop and execute a plan to meet those needs. The Parish Council has been working on this plan, and at the 2024 Spring General Assembly, presented the initial plan on what those needs were.
  • Since the mortgage is paid off what will happen to any extra money raised?
    Any money raised above what is needed to pay off the mortgage will be placed into the restricted account for exclusive use in Phase Two of the Capital Campaign which is to address the building maintenance and repairs.
  • If the Capital Campaign continues, are you not always asking the community for more money all the time?
    Unfortunately, stewardship only covers about 60% of our operating costs with the balance of our funding coming from festivals and the golf outing.With the mortgage paid off, we can save approximately $75,000 per year.However, this amount is not enough to cover the building’s anticipated future needs. It only covers about 40% of what we need to save for the building’s needs.
  • I don’t remember what the building needs were. What are they?
    We have identified four major building needs as follows: 1) replacement of the three original HVAC systems including the boiler in the basement; 2) replacement of the existing roof when the time comes (approximately 5 years); 3) repair the parking lot and bring it up to standards; and 4) landscape renovation.
  • How much will these projects cost?
    Please remember that the following are merely estimates and do not represent signed contracts. The approximate costs are as follows: 1) HVAC replacement - $210,000; 2) roof replacement - $1,000,000; 3) parking lot project - $750,000; and 4) landscape renovation - $35,000.
  • What project will we do first?
    After much discussion and consultation with our current HVAC contractor and other communities, including property managers, we have decided on prioritizing the replacement of the HVAC systems along with simultaneous replacement of the roof when the roof needs replaced. This is our number one priority.
  • Why are we replacing the HVAC systems at the same time as the roof? Why can’t we do a project a time?
    Replacing the HVAC systems will require that we cut into and patch the existing roof.We do not want to risk causing leaks and water damage.The roof has an estimated remaining useful life of five years. It may last five years and a day or it may last another 8 years.We simply don’t know.What we do know, is that it will have to be replaced and it is our most expensive and necessary project!
  • When will these projects be completed? What is our plan?
    However, at this time without a “crystal ball” to predict the future, our best estimate is as follows: a) maintain and repair the current HVAC systems for at least 5 years, or approximately until 2029. At that time, we can assess the roof condition and if the roof needs replaced, we can go ahead and simultaneously replace the HVAC systems and the roof; b) maintain the current parking lot; c) subsequently to the HVAC and roof replacement we can move forward on the parking lot renovation.
  • What about the landscape renovation?
    We discussed this project with our landscape contractor and have been advised that the Fall is the best time to move forward on this project. If in the first half of 2025, we make significant progress towards our Capital Campaign Fund Raising targets, we may be able to complete this project in late 2025.
  • How will we pay for all of these projects?
    As of November 2024, we have approximately $225,000 in a restricted account for the sole purpose of these building related projects. We project that the mortgage savings, after 5 years, will provide us with another $375,000 for a total of $600,000.The balance of the money will have to come from increased Stewardship and/or Capital Campaign contributions.
  • How much do we need to save per year?
    The Church’s budget reflects us saving $200,000 per year for these building projects.$75,000 per year will come from mortgage savings, with the balance, either from increased Stewardship and/or Capital Campaign contributions.
  • Phase Two seems like projections and big numbers, I am confused?
    Yes, Phase Two has a lot of estimates because we simply can’t predict the future. There are many uncertainties. However, we know one thing for certain – in the next 5-7 years the community is going to have a tremendous financial need that we must begin to plan for now!
  • How will we know what progress we are making?
    Our Phase Two progress will be regularly reviewed and reported to the entire community.
  • We need to raise a lot of money, how will we do it?
    We need to focus on a year at a time, a bit at a time. To put it into perspective, if 200 Stewards, each gave $50 more per month for a year, we will have reached our fund raising goal for the year!
  • Don’t we have money in the restricted account that can be used for building repairs?
    The restricted account includes all money that is restricted in its use by the donor. It includes for example money that is restricted to only be used for scholarships and memorial funds. The portion of the restricted account that can be used for building repairs is approximately $225,000.This would not even cover the replacement of the three HVAC units; let alone leaving anything for any other needed repairs.
  • I already give all I can through stewardship, how can I help?
    There is a lot you can do including: a) continue to give all you can of your Time, Talent and Treasure; b) actively participate, by working or spreading the word about the Church’s fundraisers, the festivals and golf outing; and c) spread the word within the community and positively describe the Capital Campaign.
  • Can I donate stock? Use my IRA account? Include the Capital Campaign in my will?
    Yes, to all of these. After first consulting your tax and legal advisors please contact the Church’s office on how to potentially make tax advantaged donations of stocks and other items.
  • How can I donate? Can I donate on a monthly basis? A yearly basis?
    Please request a pledge card or visit the Capital Campaign’s web page https://www.saintathanasios.com/capital-campaign
  • I want to make a pledge but wish to remain anonymous?
    Please mark on pledge card that you want to remain anonymous. Although, please note, Father Panagiotis will send all donors a letter of acknowledgment.
  • Will donors be made public in the Champion or other church media such as a Wall of Donors?
    Donor names will not be published in the Champion or in other way such as church media or website.
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