Retire the Debt Campaign
Twenty years ago, Clifton Presbyterian Church embraced a bold initiative: build a modern addition to our historic Church that would provide sustainable space for our preschool, offices, meetings, and events to benefit our Church and the community. We also wanted to improve the church structure to ensure its viability for future generations. The $3.2 million dollar project was a financial stretch for our small congregation. But CPC responded to the “Touching Tomorrow Today” capital campaign with generosity and an eye to the future. We raised $1 million and secured a loan of $2.2 million to fund the construction. Today we continue to reap the benefits of the investments we made in that future.
As a congregation we have continued a long season of generosity - reducing the $2.2 million principal amount to just over $500,000 as of 2022. The mortgage loan expires in March 2024, at which time the church will either need to pay the principal balance or seek a new loan. The session concluded that the outlook for future loans was not likely to provide favorable terms in 2024: both interest rates and bank fees are increasing. Also, the annual mortgage payment included in our annual CPC operating budget is approximately $51,000, or nearly one fourth of our non-staff related expenses. Elimination of this expense would allow CPC to redirect spending to other church purposes.
Please use our online giving link and note the donation is for Retire the Debt or complete the form and return it to the church.
Below is the status of the campaign [September 15, 2023]: