Financial Update - A Review of October 2020
October saw new donations (pledges and one-time donations) of $20,000, bringing the total raised to $26,990,000. This leaves $3,010,000 of the original $30,000,000 goal yet to be raised. We added 10 new guild members in October bringing to total guild members to over 945.
As the exterior of the church visually progresses, work continues on plans for the extremely detailed aspects of the interior décor of the church. Meanwhile, St. Mary’s spent $470,000 on the Immaculata project. We spent more out of our funds than the $170,000 we added through new donations and collections of pledges. This is expected and it is the reason we waited to start the project until we had sufficient funds in hand. The bills show we need you to contribute to this project if you have not yet done so, keeping up with your pledge commitment if you are making payments on a pledge, or consider an additional donation increasing what you have already so generously contributed.
“In these times with so much discouraging news, it is a demonstration of Catholic hope to see this project forge ahead.”
Some have asked about the status of pledge payments coming in. Of the 1327 donors to this project, 588 have made one-time donation or have paid their pledge in full. Of the 739 who have made pledges and have not paid them in full, the total remaining amount to be paid for their pledges is $3,980,000. Of those with remaining payments, 408 have paid 25% or more of their pledge, 274 have paid 1% to 24% on their pledge (some pledges started very recently). A small number have yet to make their first payment (though some of these made their pledge in October and their first payment is scheduled for automatic payment in the near future).
We send periodic pledge status statements to everyone with a remaining balance giving them a chance to review our records compared to their own. The most efficient and cost effective and consistent method of keeping up with a pledge is to arrange for automatic bank drafts. If you need to get caught up on your pledge, would like a set of payment envelopes, want to fine tune your payment schedule, or have other questions about giving, please contacts us at mypledge@anewimmaculata.org.
In the meantime, you can continue to view live cam shots (updated every five minutes during daylight hours). You can go to www.anewimmaculata.org/donate to learn about the guilds and how to give for the first time or make an additional donation using our pledge form.
“Please remember to pray the Memorare for this project’s success. ”