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An Excerpt from the Upcoming Living Our Mission Annual Report
Parishes are realizing profound and long-term benefits from the Living Our Mission capital and endowment campaign. The parishes will retain the majority of the funds raised, an estimated $64,967,000 of the nearly $103,952,000 raised, or 62.5%. To date, the Diocese has returned over $26,168,831 to the parishes through nine rounds of funding.
Parishes will use these funds in a variety of ways, including local construction projects, ministries, endowments and debt reduction. The key statistics below highlight how parishes are using their Living Our Mission money:
- 139 parishes plan to use the money raised for construction or repairs
- 42 parishes will fund ministries and outreach programs
- 23 parishes are saving for the future by placing funds into endowments
- 16 parishes allocated funds to reduce debt
Parish Construction and Repair Projects – By The Numbers:
- $55,432,000 of the money raised is for new construction or repairs to existing buildings (The true impact is even larger. The actual cost of construction in the 139 parishes approaches $77 million.)
- $9,172,000 is the largest construction project funded by the campaign – – St. Bede, Williamsburg
- 23 parish construction projects exceed $1 million
- 13 parishes are building new churches or making significant renovations to worship space
- 6 parishes addressed emergency repairs to their building
As may be seen from the highlights above, the Living Our Mission campaign is providing critical funding in strategic ways. Income from the larger endowments of the Church provide a stable source of support for our clergy and other ministries which reduces the reliance on parish assessments – – a direct benefit to the parishes.
“If it weren’t for the Living Our Mission campaign, new and/or increased parish assessments would have been needed in order to address these financial challenges,” stated Michael J. McGee, Diocesan Chief Financial Officer.
Overall, this effort has brought about stronger parishes and a stronger Diocese – – better positioned to advance the mission, through Word, Worship, Community and Service.