First E Freedom Fund
In early 2016, First E decided to sell the 3 rental homes owned by the church in light of our current vision of 20/20, which is to send out 20 full-time ministers and 20 full-time missionaries by the year 2020. One reason for this was the ability to shorten the timeline of our mortgage, which was taken out in the 90s to add on most of the classroom space and gymnasium which have been heavily used for ministry for the past 20 years.
Because the vision of being a sending church remains relevant after the year 2020, First E wants to focus on eliminating the mortgage in order to save untold thousands of dollars in interest and free up over $10,000 per month in our budget. Our goal is to pay off the mortgage by the end of year 2020, five years earlier than the full term.
Upon selling the rental homes, $150,000 was put toward First E’s mortgage principal, and members of First E have given an additional $12,000 toward the mortgage this year. This has saved about $90,000 in interest (that will go to ministry instead of a bank!) and shortened the loan length by almost 2 years. Your gift can have a similar impact! We want to ask everyone who supports the ministry at First E to consider participating in this effort to be free from debt and to free up a significant portion of our budget for ministry. We believe this would make a huge difference in our vision to be a sending church.
If 100 households pledged an average of $50/month (above their tithe) for the four years until our goal, we believe our goal is very attainable. Please pray about this to see what God would have you do. Any amount you give is a blessing that will impact future ministry. Members of First E are expected to tithe before any designated giving, as that is what allows us to pay all of the bills and salaries necessary to keep ministering.
In the lobby of the church is a watercolor visual aid that will be completed as the mortgage principal is paid down.
Please help us make it look like this: