Greetings from the Capital Campaign Committee. We are excited to begin sharing details with you about A Legacy for Mission: The Campaign for Flourishing Forward. This campaign will run for the next three years and will lay the foundation for decades more ministry for this historic congregation at 4th and Garfield.
The leadership team is in the process of defining a long-term strategic vision for our church and identifying opportunities for future growth. One of our core values centers around the continuity of care for our pastors, an attractive ongoing benefit for pastoral leadership, and opportunities for shared life between pastors and current and future generations of Hinsdale Covenant families. Given the challenges of the current 4th Street house, the congregation voted earlier this year to authorize a capital campaign to raise funds to make a change aligned with this long-term strategic vision. We’re filled with anticipation for all this initiative will mean to multiple generations of our church. We see opportunities for everyone to learn, serve, share and grow — united in Jesus Christ.
Capital Campaign Objectives
A Legacy for Mission: The Campaign for Flourishing Forward will have three phases:
Phase 1: Purchase a lead pastor parsonage
Phase 2: Revamp the Fourth Street property
Phase 3: Continue to faithfully steward our resources
We will begin the campaign by focusing on phase 1, and we will talk more about phases 2 and 3 later this year.
Capital Campaign Fundraising Goals
We are charged with raising $1.2 million over 3 years to fund this campaign, as follows:
● $400k will fund the parsonage purchase down payment
● $800k will fund debt repayment and enhancements of ministries on the Fourth Street property
The $400k committed to the parsonage purchase in 2021 will be prioritized as follows:
● Raise $280k in cash and pledges as soon as possible to bid on an ~$800k house.
● Receive another $120k+ in cash and pledges by December 31, 2021 to cap our debt.
Where are we currently in our campaign goals?
Invitation to All
We invite all congregants and friends of Hinsdale Covenant Church to participate in this campaign. Many are already contributing their time and talents, and, now, we invite all to contribute through financial gifts. We humbly accept gifts of any size as well as pledges throughout 2021, 2022 and 2023. With the spring housing market upon us, we encourage all to consider swift action to match this urgency. With God’s help, we may find attractive housing options to consider in the very near future. Please consider prayerfully how God is leading you to give. We would love for all to take part in growing our church in this way. There will be many Every gift and pledge is valued, and we are grateful for your stewardship.
Ways to Give
Online giving is easy to use and secure. You can give a one time gift or set up a recurring gift of support online using the link below. Designate “Give to Legacy for Mission.” First time givers will be prompted to provide their payment method via a secure web page.
Text to Give is easy and secure. Give via text message to the Legacy for Mission campaign by texting the amount you would like to give and the key word Legacy to (630) 716-9208. Your text should look something like “50 Legacy.” First time givers will be prompted to provide their payment method via a secure web page.
CHECK OR CASH
You can always give by cash or check. Place cash or checks in the offering plate during worship services or mail your gift to the church. Please write “Legacy for Mission” on the memo line.
Mail to: Hinsdale Covenant Church, 412 S. Garfield St., Hinsdale, IL 60521
STOCK OR MUTUAL FUND DONATION
You will receive a tax deduction for the fair market value of your securities at the time of donation, and you will pay no capital gains tax on the difference between your cost and the fair market value. Covenant Trust Company assists us in processing donations of stock or mutual funds. Please contact Mike Magnusson at mkmagnusson @ covenanttrust.com for assistance. Covenant Trust provides this service to Covenant Churches at not cost, ensuring your entire gift is able to be used for mission.
QUALIFIED CHARITABLE DISTRIBUTION
For those who are age 70 ½ or older, you are able to make distributions from your IRA accounts directly to a qualified charity on a tax-free basis! The annual limit is $100,000 per person. And, these Qualified Charitable Distributions will offset your IRS imposed Required Minimum Distribution from your IRA accounts. Please designate “Legacy for Mission” when making your distribution.
DONOR ADVISED FUND
This tax efficient strategy allows you to contribute a lump sum of cash and/or appreciated assets to the Donor Advised Fund in any calendar year. You are then able to take a current-year tax deduction for the full amount contributed (certain limits apply). Distributions are then made from the DAF to eligible 501(c)(3) tax-exempt charitable organizations over the subsequent 2, 3, 4 or more years until the balance has been fully paid out. This allows you to benefit from a higher itemized deduction in the current year, and then qualify for the standard deduction on your tax return during the years when charitable distributions are made from the Donor Advised Fund. This strategy is valuable during years of high income and lump sum assets are available to fund the Donor Advised Fund (sale of business, inheritance). Please designate “Legacy for Mission” when making your grant recommendation.