It has been already been one year since the VCC S&F Committee started the Capital Funding Appeal with its Kick-off event at the Meeting Point on 11 October 2015. Since then, we have been receiving generous donations for the Capital Funding Appeal from the American and Foreign Christian Union (AFCU) and the VCC congregation.
AFCU Contributions to Annual Budget & Capital Funding Appeal
As you know, the raises funds and serves as a clearinghouse for tax deductible donations to the VCC from AFCU board members, as well as former VCC members now living in the United States.
We are happy to report that the AFCU has raised an additional €20,830 towards VCC’s annual budget and €17,793 for the Capital Funding Appeal, almost doubling the original targeted amount for 2016!
VCC Capital Funding Appeal
VCC capital funding collection report (Euro), Nov. 2015 to July 2016
||Kick-off event, 11/10/15
|Feb – April16
||Video documentary – Ethiopia, 1st Film Night
||Film Night, Anabaptist lecture, Recital of the Rothgeb Memorial Award program
|Aug – Oct 16
|| Film Night
||5,695 (9 months)
We hope to close this gap by the end of 2016 between €5695 and the 2016 target of €15,300 by holding some addition fundraising events and appeals in November.
Reduction of Debt to VCC Member Creditors from Matching Funds Offer
In addition to the bank loan, we have VCC members’ loan for a total of €63,000. They kindly offered us to make a matching contribution up to €30,000 against funds raised by the VCC. This means that the congregation’s donation for the Capital Funding Appeal this year (9 months) of €5,694, reduced our loan to them by €11,388, so that VCC owes the two members €51,612 as of 1 October 2016.
Summary of VCC’s Capital Funding Appeal to-date:
Together with the funds raised by the AFCU and the VCC, VCC was able to reduce its bank loan from €86,351 to Euro €62,864, a reduction of 27.2% and a reduction of the debt owed to the VCC Member Creditors of €11,388 or 5.5%!
As the Stewardship and Finance Committee Chair, I would like to express my sincere gratitude to VCC alumni members in the United States and the VCC congregation who have generously donated to the Capital Funding Appeal over the past 11 months. I would especially like to thank the AFCU/VCC Capital Funding Appeal Team (see photo below):
Rev. James and Luray Wiberg (former Pastor)
Rev. Jack and Helen Hustad (former Pastor)
Ms. Kate Koob (former VCC member)
Walt Dietrich (former VCC member)
You will have an opportunity to meet Jim and Luray Wiberg who will be at our Sunday service tomorrow.