We have much to celebrate. We realize, however, that we celebrate around the proverbial elephant in the room and that is the nearly 3 million dollar debt left on the building of the Life Center. Unless we are aggressive in eliminating that debt, the increasing debt burden will greatly hamper our ministries for many years to come.
What would happen if we could pay off the debt in ten years, rather than the anticipated twenty years? If we could do that, then we would save one million dollars in interest payments for ministry and outreach over the life of the loan. We discovered that this could be possible if we could pay an additional $78,000 on the principal of the loan every year for ten years.
We have established what will be referred to as the Balloon Fund and are looking for 130 persons, families, classes, groups who will commit to giving an additional fifty dollars a month each year to the Balloon Fund. Every time our giving reaches the level of $600, a balloon will be released (biodegradable, of course) which represents a piece of the Life Center. Throughout the year, we will release these balloons as a celebration of how St. Luke is soaring each year.