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How Will We Pay for This

How Will We Pay for this?
In September, PBC will roll out a pledge process to the congregation, youth, regular attendees and former members regarding raising funds for the potential new multi-purpose facility addition. The pledge process will continue until October 31, with sermons, prayer, meetings and open discussions on the project.

Prior to a congregation meeting to approve the project, 100% of the funds must be pledged and/or in the church bank accounts prior to the vote. This current estimated amount is $1.8 million and includes the costs to operate the facility in the first year. These funds will come from the following sources:

  1. Available Church Funds – Cash reserves ($360,000), this amount is above the Elder required Operating Reserves of 4 months of operating expenses; and an additional ($140,000) from previous donations to the Building Fund.
  2. One-Time Pledges – $650,000 Target. These funds will be asked to be contributed within 90 days AFTER approval by the congregation to begin construction of the proposed building project. Estimated to need to be paid by February 1, 2014.
  3. Three Year Pledges – Commitments to give above your current contributions, weekly, monthly or yearly for a three year period of time once the membership approves the project. Pledges would be paid in full by February 2017.

An offer has been made to provide the church with a zero
interest loan for up to $500,000 over a 3 year period.

Each of you should give what you
have decided in your heart to give,
not reluctantly or under compulsion,
for God loves a cheerful giver.

1 Corinthians 9:7