allocate funds of $25,000 (includes a $5K contingency) to remodel the kitchen
and bathrooms. Bourke Kennedy, chair of the kitchen task force, presented a
representation of the proposed kitchen, a list of estimated costs for cabinetry,
and appliances, as well as contracts from the contractor, plumber and
electrician. The majority of the cabinets to be used were donated by Laura
Laura Hopkins gave us a history of the funds. They were proceeds from the
sale of art work and a sign the Society sold to cover the cost of construction
of the elevator and the sun room. The funds were dedicated for capital projects.
The Board of Trustees and the Finance committee reviewed the proposal of the
kitchen task force and discussed the stewardship concerns we have about using
the dedicated funds which are currently invested and returning mild returns, and
approved the use of the funds with the intent that at least fifty percent of the
cost be raised by the congregation and returned to the fund within three years.
Reverend Stan Sears presented three ways of contributing financially to the
capital project. One is that we could have members "buy" a piece of the project
such as a sink, or a microwave, or a piece or cabinetry. A second option would
include donations of appreciated assets (stocks or bonds that can be donated and
written off on future income without capital gains taxes being added in). A
third option would be increasing your total pledge by adding a "capital
improvement pledge" over the next three years.
The leadership wants to stress that we are committed that no one feel
obligated to contribute to this capital fund replacement of 50% if it would
require them to reduce their normal annual pledge slated for the ongoing
operation of the church. We will have opportunities for "sweat equity," and we
hope the new kitchen and accessible bathroom will encourage other fundraising
activities. The majority voted for the project with one nay vote recorded
because the 50% repayment of the fund was not included as a requirement. The
leadership strongly believes in replacing as much of the investment as possible
without straining the finances of anyone in the church.