Feasibility Study Table of Contents

Transcription

1 December 7, 2014 We wish to extend our thanks to all for the cooperation, support and gracious hospitality extended to Erin Weber-Johnson throughout the feasibility study process recently completed. A special word of thanks goes out to St. Boniface s leadership for coordinating the personal interviews and the mailing of the questionnaires. During the implementation process, we found friendly, concerned, and open communication regarding the proposed campaign and project plans. A total of 45 units participated in the survey; four interviews were conducted, and 41 responded to the mail questionnaires. This represents a total response rate of 47% among the members of the church community that were contacted. This study is our distillation of the information, opinions, and ideas gathered through the survey. It represents our combined evaluation and appraisal of major factors related to the proposed campaign. Now important decisions must be made to continue the momentum essential to the success of a campaign. The Episcopal Church Foundation welcomes the opportunity to provide further assistance.

2 Feasibility Study Table of Contents Letter of Introduction and Appreciation... 1 Table of Contents... 2 Executive Summary..3 Section One: Conclusions, Recommendations and Methodology... 4 I. Introduction..5 II. Conclusions... 5 III. Recommendations IV. Methodology Section Two: Composite Analysis and Summary of Personal and Direct Mail / Online Responses Section Three: Appendix I: Tentative Case Statement I. Tentative Case Statement Saint Boniface Episcopal Church, Mequon, WI Feasibility Study Report Episcopal Church Foundation Page 2

3 Executive Summary Background: St. Boniface Episcopal Church engaged the Episcopal Church Foundation in the spring of 2014 in a discernment phase, which sought to answer the question, "What is God calling this parish to do?" All parish community members were invited to participate both in answering feedback questions and in listening groups. The leadership of St. Boniface Episcopal Church used the results of this listening phase to inform the prioritization of projects for capital improvement. The parish's leadership finalized a plan and engaged the Episcopal Church Foundation in the second phase, Feasibility Study. Results: The response rate for St. Boniface Episcopal Church Feasibility Study was strong at 47%. This assures us that we have heard from most of those who would consider making a major gift and validates that Feasibility Study report's recommendations. The goal listed for the Feasibility Study was $345,500. The Episcopal Church Foundation recommends a goal of $180,000 based on what gifts were identified and the response rate. There are positive indicators for proceeding, as the Feasibility Study indicates: an awareness of the needs, willingness by many to give at an early date, and identified leadership. However, there is need for some education and support for recruiting volunteers. If a realistic goal is used, there is good potential for a successful capital campaign. While the amount recommended is lower than the overall goal, there appears to be great support for this initiative. Based on the results of this study, St. Boniface Episcopal Church s leadership will need to determine what projects are feasible in light of the amount of funding that can be raised in the parish. Utilizing the results of the project priorities section can provide some insight as to the level of support for each project. Finally, St. Boniface Episcopal Church has done an excellent job of communicating with parish members throughout the Discernment and Feasibility Study Phases. Communicating these results will be key to continuing a transparent, trustworthy process. Saint Boniface Episcopal Church, Mequon, WI Feasibility Study Report Episcopal Church Foundation Page 3

4 Section One: Conclusions, Recommendations and Methodology Saint Boniface Episcopal Church, Mequon, WI Feasibility Study Report Episcopal Church Foundation Page 4

5 I. Introduction For some time the leadership of Saint Boniface Episcopal Church, Mequon, Wisconsin has been evaluating the parish s programs, facilities, and resources, and assessing the capital needs of the church. After much study and the involvement of many people, the Vestry authorized the Episcopal Church Foundation to conduct a feasibility study to explore the willingness of the congregation to support financially these identified needs. The facts, findings, and recommendations of the resulting survey, now completed, provide a sound basis for leadership decisions with regard to the future of a fund drive. A complete description of the goals of the proposed plans may be found in the tentative case statement in the Appendix. II. Conclusions Gift Potential Experience tells us we can take the average between the low estimate ($107,500) and the high estimate ($170,000) of the pre-campaign projections revealed in the Study and multiply by a factor of 1.3 when certain percentages and comments (such as revealed in this study) are attained. Thus the average, $138,750, when multiplied by this factor (1.3) reveals a suggested goal of $180,000. This recommendation is made factoring in the reality that additional gifts, not yet identified, will be forthcoming; hence the multiple of 1.3. Saint Boniface Episcopal Church, Mequon, WI Feasibility Study Report Episcopal Church Foundation Page 5

6 Awareness of Need A majority of respondents (76%) were aware that Saint Boniface Episcopal Church is considering a possible campaign, and 89% were also aware of some or all of the proposed plans. Of course, not all the items received the same degree of support. Present awareness of need is a positive; however, each project should be studied and prioritized with consideration given to the degree of support and the resources available. Saint Boniface Episcopal Church, Mequon, WI Feasibility Study Report Episcopal Church Foundation Page 6

7 Interest in and Support for a Capital Drive There is significant indication of support for the proposed campaign, but also signs that suggest caution. Positive signs from respondents include: 1. Eighty-seven percent are in favor of the campaign, although some with reservations. 2. Only 11% are opposed to the proposed campaign timing. 3. Eighty-three percent of respondents would give to the campaign. Saint Boniface Episcopal Church, Mequon, WI Feasibility Study Report Episcopal Church Foundation Page 7

8 Concerns 1. Approximately 15% of respondents feel the goal is reachable. Thirty-four percent feel it is too high. The remaining 51% had no opinion on whether this goal can be achieved. This is an indication that the proposed goal is too high. 2. Only 7% of respondents would be willing to volunteer their time. 3. No major gifts were identified, and too few larger gifts were reported at this early date to allow a goal of $345,500 to be fully embraced. Saint Boniface Episcopal Church, Mequon, WI Feasibility Study Report Episcopal Church Foundation Page 8

9 Influential Leadership Strong leadership both financial and volunteer is absolutely essential for the success of any campaign. A leadership core is presently in place. It is the challenge of this leadership group to expand involvement within the parish, including other individuals who may have significant giving potential. With involvement comes commitment. Planned Giving A few people requested planned giving information, and four indicated the church was already in their estate plans. This is encouraging and suggests that such future gifts could be used to help build endowment or retire indebtedness. Campaign Timing The respondents endorsed the proposed campaign timing. Of course, decisions on the priorities of projects must be made. It is imperative to revisit the proposed plans and make appropriate changes in the size of the effort, the proposed goal, and other sources of funding. Saint Boniface Episcopal Church, Mequon, WI Feasibility Study Report Episcopal Church Foundation Page 9

10 III. Recommendations Recommendation #1 The information revealed in this Study suggests that a capital campaign for a Primary Goal of $180,000 is realistic and appropriate. This presupposes that an assertive campaign involving the entire constituency would be launched, and that the type of methodology used by the Episcopal Church Foundation would be followed. Recognizing that immediate needs are greater than what is revealed in the Study, leadership may wish to consider $180,000 as the primary goal and establish a larger challenge goal, which would encourage the congregation to stretch to longer pledges five years rather than three years, for example. If the challenge was not reached, the congregation would still experience success by achieving the primary objective, but hopes would be high that the challenge, at least in part, could be accomplished. Recommendation #2 Planned giving activities should be pursued during the campaign in an effort to encourage major gifts to underwrite the future of the church. Such gifts, often deferred and received in future years, are helpful in reducing mortgages or indebtedness. The Episcopal Church Foundation is responding to individual requests for information on planned giving. Recommendation #3 Review the Tentative Case Statement and make final decisions based on the financial feasibility revealed in the Study. Consider also the prioritization suggested by respondents. Recommendation #4 Share as soon as possible the revised plans with the congregation and seek increased consensus. Increase significantly all publicity concerning this project. Recommendation #5 Once the leadership has had an opportunity to review the Study recommendations and revise the proposed plan, a timetable such as the following should be considered to maximize success: Months 1-2 Months 2-3 Determine campaign calendar and budget. Announce goal. Begin materials development (pledge cards, brochures, letterhead, etc.). Recruit and train campaign leadership and support committee chairs. Evaluate Advance Gift prospects. Continue to train leadership. Complete materials development. Begin Advance Gift solicitation. Contact planned giving prospects, if appropriate. Saint Boniface Episcopal Church, Mequon, WI Feasibility Study Report Episcopal Church Foundation Page 10

11 Months 3-4 Months 4-5 Prepare for and launch the Congregational Gift division. Hold kick-off event. Begin personal solicitations and monitor solicitation efforts. Finalize all calls. Set up pledge collection and acknowledgment systems. Hold Celebration Event to acknowledge conclusion of the campaign and recognize the leadership and volunteers. Recommendation #6 Select professional management to guide and direct the campaign to insure efficiency and the implementation of a proven, successful fundraising methodology. Saint Boniface Episcopal Church, Mequon, WI Feasibility Study Report Episcopal Church Foundation Page 11

12 IV. Methodology A. The Feasibility Study As the parish considers a capital campaign, it should reflect on several important questions: What conditions are essential to a successful campaign in the church community? How much money realistically can be raised? Will the church community support a drive that fulfills the goals of the proposed plans? When should the campaign begin, and how long should it last? What volunteer leadership is available to head the campaign? Determining the answers to these and other questions was the major purpose of the Feasibility Study. Through the Study we have researched, analyzed, and evaluated fundamental factors present, or capable of development, which might influence a capital campaign. The study was conducted in three phases: research, personal interviews, and direct mail. Phase I An examination of the proposed needs, development of a Tentative Case Statement, determination of optimum campaign goals and timing, and review/selection of personal interview prospects were completed during sessions with the parish leadership. Phase II A sampling of parish members was selected for personal interviews. A total of four interviews were ultimately conducted by Erin Weber-Johnson of the Episcopal Church Foundation. Phase III A mail survey was sent to 92 households. Included in the mailing was a letter requesting participation in the survey, the questionnaire, the tentative case statement and a self-addressed return envelope. Saint Boniface Episcopal Church, Mequon, WI Feasibility Study Report Episcopal Church Foundation Page 12

13 STATISTICAL NOTE: A total of 92 direct mail questionnaires were mailed to the parish community. Of those, 41 were returned: a mail response rate of 45%. Including the four who were interviewed, 96 units were exposed to the study. Of those, a total of 45 units or 47% participated. Based on experience, this response rate is a good involvement from the parish community, lending credibility to the study findings. Of the total that participated, the majority, 56%, attend worship services one or more time(s) per week. Regarding the financial-giving practices of those who responded, the majority, 84%, are regular contributors with a written annual pledge. In importance of charitable donations, St. Boniface ranks as the most important charity that respondents donate to with 55% rating it as such. Another 41% rank it as in their top five charitable donations. Saint Boniface Episcopal Church, Mequon, WI Feasibility Study Report Episcopal Church Foundation Page 13

14 B. Elements of a Successful Campaign There are certain elements which must exist in connection with every successful fundraising campaign. 1. Recognition and acceptance of the tentative needs as expressed. 2. The case for widespread appeal. 3. Availability of strong financial leadership. 4. The capability of existing leadership to recruit additional support. 5. Past and current support levels for other church-wide capital campaigns. 6. The congregation s awareness of the proposed plans. 7. The economic optimism of the parish community. 8. Possible conflict with other past, present, and projected community, parish or diocesan campaigns. 9. Overall response to goal attainability. 10. Indicated interest in contributing to, and projected levels of support for the proposed campaign. 11. Projected timing of the campaign. These elements are carefully reviewed in this report. The Conclusions and Recommendations Section of this report addresses the elements of success as we consider the readiness of Saint Boniface Episcopal Church to proceed with a major capital campaign. NOTE: Minor editing has occurred in the comments to ensure grammatical accuracy and preserve the anonymity of the feasibility study respondents. Also, the spellings of some names could not be verified against the parish directory. Saint Boniface Episcopal Church, Mequon, WI Feasibility Study Report Episcopal Church Foundation Page 14

15 Section Two: Composite Analysis and Summary of Personal and Direct Mail / Online Responses Saint Boniface Episcopal Church, Mequon, WI Feasibility Study Report Episcopal Church Foundation Page 15

16 Results from 4 Personal Interviews And 41 Direct Mail Responses Total of 45 Responses Note: Not all respondents answered all questions. Awareness of Need 1. Prior to this survey, were you aware that the parish was considering a capital campaign? 34 Yes 11 No Seventy-six percent were aware that St. Boniface Episcopal Church is considering a capital campaign. This is a positive indication that the church leadership has prepared the ground for a major capital campaign. 2. Prior to this survey, were you aware of the needs as expressed in the accompanying proposed plans? 15 Aware 5 Not Aware 25 Aware of some of the needs Thirty-three percent of the respondents were aware of the capital needs of St. Boniface Episcopal Church. Another 56% were aware of some of the needs. Only 11% were not aware of the needs. This is an indication that the leadership has done a fine job of communication. 3. Are there additional needs that seem important to you which are not covered by the proposed plans? Comments: Kitchen sink Handicapped accessible ways for folks to get down to the lower level of the church. The parish is not sustainable without a strong view towards growth. I am curious of the benefit of the core values if not moving towards growth. We will be in the framework of constant capital campaigns if not referenced towards growth. The parish is not growing. I am disappointed that the core values do not reflect an initiative towards growth. Saint Boniface Episcopal Church, Mequon, WI Feasibility Study Report Episcopal Church Foundation Page 16

17 A full kitchen on the main floor for use in the narthex. Small kitchen off the Cleaver Room updated and refurbished. Impact of church hall creation on youth Christian education spaces. ADA compliant. Rethink basement kitchen and consider a kitchen area at the rear of old nave in eastern corner area. More convenient, no stairs and better use of space for all. Upgrade lower kitchen with good used appliances. Staff support. Interest in and Support for a Capital Drive 4. Generally speaking, do you favor the parish conducting a capital campaign as outlined in the proposed plans? 20 Yes 6 No 19 Yes, but with some concerns Forty-five percent are in favor of the campaign, with another 42% in favor with some concerns. Another 13% are opposed to the campaign. This is a sign that the church community may be willing to support the campaign. Comments: I wonder how, with our limited membership, we can pull off a capital campaign. Leave debt restructuring for another day. Size of the congregation has varied and is still in flux. Understand why people are leaving. In view of weak financial situation of the parish, it is unwise to undertake projects at this time. They should be done individually only if their present condition is in dire need of change. However, our need to reduce our debt should be pushed hard above all else. I like the two-pronged approach projects and debt reduction. Which plans will be focused on if we don t achieve the goal? A lot of us are on fixed incomes. We try to raise our pledge every year but there is a limit. Saint Boniface Episcopal Church, Mequon, WI Feasibility Study Report Episcopal Church Foundation Page 17

18 Level of debt we are still carrying. Will work be scheduled as we receive funds or will it result in short-term borrowing? I like the idea of allowing contributors to allocate their donation to a combination of the two. Not as outlined! All money should go to debt reduction. Debt reduction is primary need followed by essential repairs. 5. Please indicate the level of priority you would attach to each of the projects outlined in the proposed plans by checking the appropriate line under each heading. At present, they are listed in no particular order. *Select only one option per line and feel free to make comments (use an extra sheet if necessary). PRIORITY High Medium Low Opposed Lack Information a. Replacing windows and doors in administrative wing and old nave b. Air conditioning/heat pump in Cleaver Room c. Old Nave c1. Wall insulation, drywall and electrical outlets c2. Insulate ceiling c3. Replace furnace and add additional duct work d. New appliances in basement kitchen e. Debt Reduction Comments: We don`t know how the list of projects was derived. There are some priorities that are low or lacking information. Saint Boniface Episcopal Church, Mequon, WI Feasibility Study Report Episcopal Church Foundation Page 18

19 If I can live with my old kitchen, so can the church. A - It would be nice to see what the savings to this would be. We ought to be looking at utility bills. What s the yearly pay back and what will this achieve? I need this information at this point. Some of these energy savings ideas are so long-term that money would be better spent elsewhere. C1 - The cost here did not seem bloody likely to me. C2 - It seems to me that there are requirements here but I need to see a cost benefit analysis. C3 - I don`t know the age of the existing furnace. It seems reasonable but I still need information. D - Could I find out the age of the appliances and energy usage? There is potential for justification here, but I need more information. E - Debt reduction is important. But if other items will allow us to be more attractive, then they would take priority over debt reduction. Necessary things first. I wish there was enough money to tear down the old building and replace it with a new, more functional building. New furniture is needed in the Cleaver Room and new cabinets in the kitchen. All improvements should reduce yearly operating costs. Debt reduction will result in reduced yearly expenses. All will result in allocating more money to the church mission. Furnace is high priority if it is not working. We never use the basement kitchen. 6. In your opinion, what major positive factors does the parish have in its favor for the proposed campaign? Comments: Hopeful enthusiasm. There s a core of people that are still very active and involved in the church. Really good outreach. Saint Boniface Episcopal Church, Mequon, WI Feasibility Study Report Episcopal Church Foundation Page 19

20 Strong, committed, supportive members. (8) Positive funds to date. Reserve fund. Very specific ideas as to how to use capital funding. We must take care of the building, grounds, and debt. Parishioners actively engaged in the life of the church. (2) A very hardworking young priest and a core of like-minded vestry. First priority is the mortgage and second is making the old nave functional as a meeting and social area. Most people agree the old nave should be made functional. People see that the building needs updating. (2) Attracting new parishioners and families. (4) To reduce our debt. A spirit of community. We are moving forward and taking positive steps. Wealthy members. (2) To facilitate more and better events, energize the parish, and improve long-term future of the parish. A small community that is very close to the church. Long-term parishioners who are very dedicated. (2) Fr. Kenny/pastoral leadership. (2) A welcoming, warm, and beautiful church. Sustainability after several years of flux. Saint Boniface Episcopal Church, Mequon, WI Feasibility Study Report Episcopal Church Foundation Page 20

21 A better economy. Increased activity in the community. 7. What problems, if any, do you foresee for this project? Comments: Raising the money. (4) An aging congregation. Economic concerns. (4) Episcopal Church (nationally, not OUR church) is still in conflict. Economically, the general population at St. Boniface does not have a lot of money to spare. (2) The giving power of the parishioners and their previous disposition to step up to the plate in a significant way is low. We have lost some very long-term, generous, very involved parishioners. (3) We are in transition with younger families who are not nearly at the same giving with different spending/giving priorities. (2) Getting people to agree on priority. (2) Staying within the budget. There may be some things within the Episcopal Diocese that may cause some problems with committing people to three years. Unclear picture of how money is being spent. Lack of money/people do not have any more to give. (3) Debt from new sanctuary. Congregational apathy and low giving. (2) It seems piecemeal. Saint Boniface Episcopal Church, Mequon, WI Feasibility Study Report Episcopal Church Foundation Page 21

22 Not enough giving to cover normal expenses. (2) It is not a great time financially/timing is bad. (2) People are tired of being asked for money. (2) Asking new families for money. The loss of so many members. People are tired of paying off debt. Small size of the congregation. (3) Lack of participation. Too few doing most of the work. Wants versus needs. People funding their pet projects. 8. What added ideas or suggestions do you have which might be helpful to the leadership in making this important decision? Comments: Look at the average means of the age of people and be a little more realistic as to the economic condition of that age. People are tapped out. I don`t see that there is much downside with the church going ahead with this. I don`t think we`ll reach the goal. As I look at this, you have debt reduction which has been a huge thing for 10 years. In 2009, it was more about leveraging assets rather than coming from the parish. As I look at the list of things that need to be done with capital improvements---these are all deferred maintenance costs which should have been paid out of the normal operating budget. Across the board, mainline churches are declining. St. Boniface is still in the healthy range in the big scope of things but is declining so there s not a lot of money for the operating budget. Maybe this shouldn`t be a capital campaign but just a campaign to get things done that need to be paid for---that way there s no risk. Saint Boniface Episcopal Church, Mequon, WI Feasibility Study Report Episcopal Church Foundation Page 22

23 We need to ask people if a potential campaign gift will impact their annual gift. During the last campaign, we pledged a big amount and it feels like we just paid that off and now they are coming back to ask for more. From my side, this is just more of the same. Still paying off debt! Still more deferred maintenance. To me, this is what s problematic and is keeping me from pledging more. Is the church really healthy enough to do this? They need to have a larger amount of the congregation, other than just the vestry, give their opinions of what needs to be done. If it is just seen as vestry decided issues it could be a problem. My big worry is between paying down debt and improvement on the building. This needs to be very clear on how to achieve both. We need it to be very clear which project is dependent on one another. For example, you can`t do the ceiling without the walls, etc. Capital campaign income does NOT require an assessment to the Diocese. We may not reach our goals, but that doesn t mean we shouldn t try. Make sure you have identified major donors in favor of the campaign. Look at the money we already have and use it to the best advantage. We have enough money to do everything but debt reduction. I like the breakdown of projects. Grant writing to fund some of the projects. How much will be saved in interest by paying off the debt? Communicate alternatives and costs as the process unfolds. Prioritize for the best return on investment. The congregation needs to be made aware of why these projects are needed and what benefits they will be as we move forward. Also, what information do we have about the financial resources of our members? Wait a few years. Rebuild membership first. Use prayer book and hymnals not reams of paper. Saint Boniface Episcopal Church, Mequon, WI Feasibility Study Report Episcopal Church Foundation Page 23

24 Pay down the debt and then have small goals. Don t put money into the old nave at this point without a clear vision as to how we will use it. Once these things are completed, where do we go from there? What do we do with our improved building or with the money we save from the mortgage to fulfill our mission of spreading the gospel? Leadership 9. If asked, would you be willing to work on a committee in support of the proposed capital campaign? 3 Yes 22 No 17 Not sure at this time Only 7% would be willing at this early date to volunteer. Another 41% are not sure at this time and may be persuaded to participate as the campaign plans are formulated. This is a relatively low response at this stage in the process. 10. Among individuals you know, who would make an ideal CHAIR for this proposed capital campaign? David Clark 5 Rich Dean 5 Chris Hart Debbie Hogate 2 Nancy Jacobs Ken Jonas 5 Sarah Kerkman Kevin McGowan 2 Larry Moon Rob Mortensen 6 Bob Pasternak Dave Purcell Cam Ross 2 Saint Boniface Episcopal Church, Mequon, WI Feasibility Study Report Episcopal Church Foundation Page 24

25 Campaign Timing 11. Does a proposed solicitation period for pledges in the winter of 2014/2015 seem appropriate to you? 13 Yes 4 No 22 No strong feeling Thirty-three percent are in favor of the proposed timing. Fifty-six percent expressed no strong feeling one way or another. The remaining 11% were opposed to the campaign timing. This is a cautious endorsement that a campaign could proceed as scheduled. Gift Potential 12. Do you think a goal of $345,500 (as outlined in the proposed plans) can be raised in gifts and pledges? 6 Yes 14 No 21 Don't Know Only 15% believe the goal can be attained, while another 51% have no opinion if it can be reached. Another 34% do not believe the goal can be attained. Normally, we like to see at least a majority believing the goal is feasible. Generally when less than half are confident about the projected goal, the proposed goal is usually too ambitious. If no, how much do you think can be raised? $100,000 $150,000 $150,000 to $200,000 $175,000 $200,000 (4) $250,000 $250,000 to $300,000 Half the amount. Saint Boniface Episcopal Church, Mequon, WI Feasibility Study Report Episcopal Church Foundation Page 25

26 13. If convinced of the need, would you be willing to contribute to this proposed campaign? (All gifts, regardless of size, are needed and are important to the success of the proposed campaign.) 35 Yes 3 No 4 Not sure at this time Eighty-three percent would be willing at this early date to contribute to the campaign, while another 10% expressed that they are not sure at this time. Another 7% indicated a negative response. This is positive and an indication that a campaign can proceed. 14. If "yes," please estimate your possible total range of giving. Gifts potentially could be paid over a several-year period. This is not a pledge or in any way binding. 4 $500 or less 6 $500 to $1, $1,000 to $3,000 3 $3,000 to $5,000 3 $5,000 to $10,000 2 $10,000 to $15,000 2 $15,000 to $25,000 0 $25,000 to $50,000 0 $50,000 to $70,000 0 $70,000 and above Typical Gifts Essential to the Success of a $345,500 Capital Campaign Size of Gift # Needed Gifts Indicated in Study* $70, $50, $25, $15, $10, $5, $3, $1, $500 and below Many 4 *Using the high range estimate Respondents projected donations ranging from a low of approximately $107,500 to a high of $170,000. While not indicated in the chart above, not all gift amounts were given within a range as presented. Some were given as singular amounts, e.g., $5,000, instead of $3,000 to $5,000. The high and low estimates have been adjusted accordingly. These early estimates fall short of supporting $345,500 as a primary goal. Saint Boniface Episcopal Church, Mequon, WI Feasibility Study Report Episcopal Church Foundation Page 26

27 Planned Giving 15. In addition to making a gift to the proposed campaign, some parishioners may wish to explore planned or legacy gifts. Check the blank next to the item(s) of interest. Materials will be sent to you from the Episcopal Church Foundation. 2 Make a gift to your parish through a bequest in your will. 0 Create a charitable gift annuity (minimum gift of $5,000). Benefits of a charitable gift annuity could include: receive guaranteed income for life (i.e. current rates of approximately 4.7% annually at age 65, approximately 5.8% annually at age 75) receive an income tax deduction now for the gift portion receive some tax-free income from the investment until your life expectancy age possibly reduce applicable estate and inheritance taxes enjoy the satisfaction that at the death of the final income beneficiary, the remaining principal would go to an Episcopal congregation or entity you designate 0 Create a Charitable Remainder Trust with appreciated assets (minimum gift of $100,000) 1 Create a Pooled Income Fund gift for life (minimum gift of $2,500) 0 Donate appreciated real property such as a house, vacation home, farm or business 2 Send me the Overview of Planned Giving brochure which explains planned gift options further 1 Add me to the Episcopal Church Foundation e-newsletter on estate planning. 15a. 4 Saint Boniface Episcopal Church is already in my will or estate plans. Four individuals have already included the church in their estate plans. Several others have indicated they would welcome information. They will receive information confidentially from the Episcopal Church Foundation. Saint Boniface Episcopal Church, Mequon, WI Feasibility Study Report Episcopal Church Foundation Page 27

28 A Final Word The Episcopal Church Foundation thanks the leadership of Saint Boniface Episcopal Church for the opportunity to work with the parish family. We enjoyed our work on your behalf and would welcome the opportunity to be of service. Thank you, and best wishes. Saint Boniface Episcopal Church, Mequon, WI Feasibility Study Report Episcopal Church Foundation Page 28

29 Section Three: Appendix I: Tentative Case Statement Saint Boniface Episcopal Church, Mequon, WI Feasibility Study Report Episcopal Church Foundation Page 29