Catch the Spirit has been our rallying cry for over a year.  The campaign is about meeting the challenges of a growing, dynamic and spirit filled parish.  Catch the Spirit is a campaign to insure the parish has the physical plant necessary to meet the real needs of our parish family.  The response has been overwhelming, but much needs to be done. We need the participation of the 39% of our parishioners who have not yet made a commitment to support our campaign efforts, ESPECIALLY NEW PARISHIONERS who have joined STM since January, 2004 because:

• Without your participation, we may have a small amount of debt at the end of our campaign depending on the final cost of the parking improvements and new building.  The potential cost of the new building and parking  improvements is estimated to be around $1,800,000.

• All commitments and gifts to the campaign make a difference — whether big or small.  The more participation we have, the better off our parish will be when the campaign is over.

• This is OUR parish—it belongs to all of us.  It would be great to reflect that spirit of family with additional campaign participation.  Everyone’s help is really needed.  If you are not sure how to help — please call the parish office or use the yellow or gold “Catch the Spirit” envelopes that are in church.

“The Plan” 

It has been over two years since we began our three year “Catch the Spirit” campaign here at St. Thomas More Parish.  Our parishioners have really “Caught the Spirit” with campaign commitments totaling over $2,900,000.  Now that we have passed the halfway point of our campaign, you may be interested in the plan for our Catch the Spirit funds.  This plan is responsive to parishioners desires, shows common sense, sound fiscal responsibility and good judgment.  Here is a summary:

1)   In May, 2004, we paid off our entire $1,390,000 debt because:

• We had collected over $1,915,000 in campaign funds by then and had enough money to pay the entire amount.

• The #1 concern of our parishioners (as expressed by 79% of parishioners in the fall 2002 feasibility study), was reducing/eliminating our debt. 

• We would have had to begin paying on our debt in May because that is when the grace period from the Diocese ended.

• There was no significant advantage to paying only a partial amount of the debt.

2)   We will begin construction of our new building and parking improvements as soon as required approvals and permits are received and acceptable contractor bids have been received and approved because:

• Delaying until our campaign is concluded could mean 12% in additional costs for the new building and the parking improvements and we want to avoid that if at all possible (there is typically a 6% increase in costs associated with a one year construction delay). 

• Current estimates are that we will have the permits and approvals necessary to begin construction some time in early 2005 (original estimates were for groundbreaking some time after July, 2004 but permit delays have pushed the date back a few months).

3)   We have secured a “bridge” loan from the Diocese because this loan/line of credit allows us to begin construction without having received all campaign funds, saving additional costs that a delay would incur. 

Campaign funds received (as of 12/1/04)
$2,535,000

Current parish debt paid in May, 200
$1,398,000

Expenses already incurred
$   237,000

Remaining campaign fund balance as of December, 2004
$   900,040