YEAR END UPDATE TO FHRAT

On December 18, 2017, the capital campaign committee reported to FHRAT for the last time in 2017.

• Funds raised to date (updated 12/22/17): $2,594,535 from 200 contributors and $103,735 from 93 for U-M. We will continue to push for the $2,750,000 goal to reciprocate for the $1 million commitment of the donor family.
  
• Second generation requests total over $12,000 from 10-12 donors, including two made by parents in honor of their kids.
  
• Made final push for participation in email message last week to those in the directory who hadn’t yet pledged. Picked up a few people whom we had overlooked or who had overlooked us. Perhaps an additional $12-15,000. No one can say that they weren’t contacted.
  
• According to Sarah: Donations (cash) received through today:
  
  • $548,084 for Follen Capital Campaign
    
  • $34,809 for UUUM Meetinghouse Campaign
    
• Expenses to date are on the order of $80-90,000, some $60K of which is architect’s fees, plus money for soil samples, surveying, and marketing, including brochure printing and kick-off parties..
  
• We expect to have a fix on construction timing and related cash needs by the end of January. At that time, we will determine a short-term investment schedule.
  
• We will have a permanent table at Coffee Hour (and throughout each week?) with the latest information about the Campaign and a Project update. With the concurrence of FHRAT and the Stewardship Committee, we would like to mention this with a one-liner in “Follen for You” each week, concentrating on the Project Update.
  
• We will start conversations with banks in January about construction financing based on the cost estimates vs. timing of our cash receipts estimates. Cas Groblewski will provide advice and participate in sourcing.
  
• Documentation required by the banks likely will include a balance sheet for the Church that includes an appraised asset value of property, plant, and equipment, which will have to be done professionally at a cost that could exceed $3,000, given the unique nature of the property.
  
• This balance sheet entry also is required to support our petition for 501-c- 3 designation, which in turn may make us eligible for matching gift status from some corporations who match their employees’ charitable contribution.
  
• We haven’t made the anticipated headway on outside grants as yet. Hopefully, starting in January…
  
• Construction Oversight Team will be headed by Alice Dunn and Valerie Perkins, who with Greg Shenstone and Mart Ojamaa have provided vital professional input to the architectural meetings, as have Steve Ervin, Tom Ryan, Nancy Sofen, and Claire Feingold-Thoryn, among others. Rich Papazian will continue as Treasurer and Brad Howe will oversee revenues and expenses with Rich and Sarah Garner.
  
• Alternate sites may not be necessary until the summer services, assuming that we set up offices in Marshman. We likely will need R.E. housing, probably in Waldorf, in the fall. Conversations are underway with Waldorf and Temple Isaiah but nothing will be committed without more definite information, especially regarding timing. Epp Sonin has also offered meeting space at the Monroe Center down the street.

Merry Christmas & Happy Holidays to everyone. It’s been an extraordinary year for Follen, to be exceeded only by what’s going to happen in 2018!