Funding Our Future
Frequently Asked Questions
Question 1: How much longer does DLC have in the current space?
Answer: DLC has been blessed with the current space as a temporary facility through December 2020. We are actively looking at a space that will allow us to fulfill our vision and mission. Please click on the link below to see the presentation provided at the Church Accountability Meeting on the mission and vision.
Question 1a: Why is the church seeking to purchase a building at this time versus continuing to lease a facility?
Answer: Leasing a facility remains an option if we cannot find a suitable building for purchase. However, it is DLC’s preference to purchase a building at this time for the following reasons:
- Buildout of a space requires a significant investment whether you purchase or lease a facility. Leases typically range between 5-7 years, which does limits the amount of investment that can be made in a facility due to the short term nature of the investment.
- Control over the use of the facility is often more limited with leased versus owned facilities.
- Each time DLC exits a leased facility there can be significant exit costs to return the leased facilities to the landlords desired state.
Question 2: Why is the goal to raise $600,000?
Answer: The range of properties that DLC is seeing in the marketplace range from $2M – $3M plus. Typically, lenders required 30% of the value of the loan as down payment. 30% of $3M = $600,000. Please click on the link below to see the presentation provided at the Church Accountability Meeting on the mission and vision.
Question 3: Is $600,000 enough to obtain a building and do a build out of the facility?
Answer: No. The $600,000 are just the funds needed to acquire a property in Phase I of the program. It is conceivable that we will need to raise additional funds in order to complete a buildout of the acquired property.
Question 3a: What additional funds will be required for a build out and what additional funding is needed to support the full vision presented during the Accountability meeting?
Answer: Buildout costs range significantly depending upon if DLC is refreshing an existing church facility versus a complete retrofit from a commercial property to church that is fit for our purpose.
Question 4: Why is DLC targeting $1,000 per adult church member? Why not divide the goal evenly among the members?
Answer: Funding Our Future represents contributions over and above your tithe amount. The $1,000 per member was given as an example to emphasize that the “Funding Our Future Campaign” is about equal participation not equal sacrifice. In order to meet this goal, each member will have to evaluate their commitment through consulting with family, financial advisors and God. DLC is asking members to search their hearts to determine how much they are willing to sacrifice for the vision; $1,000 is a significant sacrifice for some while $10,000 may represent sacrifice for others. Members should give in proportion to how God has blessed them.
Question 5: What is the pledge period?
Answer: DLC is asking each member to start submitting their pledge commitments starting March 1 and ending on April 1 so that we can develop a firm plan for presentation to the banks by mid-April.
Questions 6: Can I pay my pledged amount in one lump sum or over time installments?
Answer: Payments can be made either in lump sum or in several installments. The faster DLC can obtain the funds the more assurance that DLC can provide lenders regarding our ability to pay. For example, a $5,000 pledge can be paid in four (4) equal installments of $1,250 or a $5,000 lump sum.
Questions 6a: If I decide to make installments how much time will I have to complete my payments?
Answer: The payment period for the campaign will run from March 1 through September 30. We would like to have members fulfill their pledges by September 30. If you need additional time please specify the date on your pledge card the date you expect to meet your commitment.
Question 7: How can I make payment?
Answer: Payments can be made through any of the means currently available to pay tithes and offerings.
- If paying by check please indicate “building fund” or “Funding Our Future” in the memo section of your check and write the same on your offering envelope.
- If paying at discoverlifeGA.org please indicate “building fund” or “Funding Our Future” in the memo section.
Question 8: Is there a limit to the amount that I can give?
Answer: No. There is no limit to the amount given. Any contributions made to the “Funding Our Future Campaign” are tax deductible as DLC is a not-for-profit 503 (c) entity. Please talk to your tax advisor about the IRS limits the amount of deductions that can be taken in one year.
Question 9: Can individuals and corporations who are not members of DLC contribute to the “Funding Our Future Campaign”?
Answer: Yes. Any contributions made to the “Funding Our Future Campaign” are tax deductible as DLC is a not-for-profit 503 (c) entity. This includes accepting matching contributions from your employer, if they have a matching program.
Question 10: Is there a way that we can stay informed about how well the funding campaign is going? Can we establish SMART Goals or milestones throughout the campaign (e.g. How much we expect to collect every 30 days)?
Answer: We will share the pledged amount and progress towards the goal every 30 days to ensure that the body is well informed. $100,000 per month would be the collection goal per month.