Inheritance of Hope – Frequently Asked Questions

Frequently Asked Questions

Will we continue to do the PSA? Will we continue to use the PSA to pay down the debt?

The Building an Inheritance of Hope campaign will take the place of the PSA in 2017. In 2018, we will resume our annual PSA to meet our assessment for the diocese. This will also provide the parish an opportunity to approach any new families as well as anyone who is not already contributing to the Building an Inheritance of Hope campaign.

By conducting the campaign, our hope is to far exceed what we typically raise through the PSA over the next three years. We will still need to meet our diocesan assessment in 2018 and 2019. Anything raised above the assessment will be greatly beneficial in reducing the debt even more.

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What about the permanent church?

Before we can even begin thinking about a permanent church, we must address the debt. For that reason, this campaign will be focused solely on reducing the debt still owed on our current building.

Building a new church on our campus has always been a part of the master plan for our parish. We will continue to evaluate and discern what is best for our community and how the Holy Spirit is calling us to provide for our current and future needs. However, it is difficult to focus our vision on anything beyond the obstacle that is our debt. It constrains our daily operations, let alone our plans for future building.

Once the debt is reduced, we will be able to shift our gaze to the long-term growth of the parish and determine our next steps, whether that will be starting to plan for a permanent church or making improvements to the grand hall. One thing is for certain, we will not seek to immediately saddle our community with another large debt once again.

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How will a campaign impact the financial situation of the parish?

Recently, parish leadership negotiated a much more favorable interest rate with the Diocese of Orange and reduced our monthly payments by almost $10,000. With the money the parish still has in the building fund, we will be able to apply everything that is raised to the principle of the loan and drastically reduce the remaining debt. Not only will this free up the parish from meeting the monthly mortgage payments, but it will save the parish hundreds of thousands of dollars in interest payments and reduce the life of the loan by 50 percent.

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Is my pledge legally binding? Will it be kept confidential?

A pledge is a gift or the commitment to give for a specified period of time. All we ask is that you do your best to fulfill your pledge as we will be making plans based on the pledges received. Please advise us of any changes that may impact fulfilling your commitment. All pledges will be kept as confidential as possible. Only those responsible for maintaining campaign records will know of your financial commitment.

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Will my gift be considered tax-deductible?

Gifts to the campaign are tax deductible to the fullest extent of the law. The application of such laws varies with individual circumstances. Donors with specific tax related questions should consult their attorney or financial advisor before making their gift or pledge.

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If I can’t make a large donation, will my contribution still help?

Absolutely! We, by no means, expect everyone to make an equal gift, but rather, we hope that everyone will make an equal sacrifice. In other words, we are asking you to consider making a gift beyond what is comfortable, one that you can take great pride in, knowing that with your generosity on earth, you are storing up treasure in heaven. Our goal is to have 100 percent participation because every gift makes a difference. Every gift counts!

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