Campaign to Eliminate Trinity's Debt
May 04, 2025
“And God is able to provide you with every blessing in abundance, so that by always having enough of everything, you may share abundantly in every good work.” 2 Corinthians 9:8
An Opportunity for Financial Leadership
The Vestry is excited to announce an opportunity for the parish to exercise leadership over the direction of the Cathedral, even in this time of transition. This opportunity is for the congregation to pay off Trinity’s financial debt.
You likely have questions about this project. The first may be, how much is our debt, and where does it come from? Using round numbers, the debt is approximately $350,000. It mostly stems from mortgages on the buildings across Spring St. from the main part of campus, though a portion comes from a line of credit the church had during the early 2010s. The debt has existed in one form or another for decades.
Make a Pledge Make a Contribution
Why Now?
The most important question to ask is, why should we pay this debt? There are two important answers to this question. First, it is time for us to move beyond it. The debt is holding us back. We pay nearly $50,000 per year in debt service, money that could otherwise be used to expand or create new ministries for the church to serve the parish, the community, and the diocese. We need to move past this debt and fixate our eyes squarely on the future. If not now, then when? If not us, then who?
The second reason is because of the timing of calling a new Dean & Rector. Anyone interested in answering our call to serve Trinity will take a close look at the financial condition of Trinity. Being a debt-free parish will make us much more attractive. Beyond having no debt, the Search Committee can communicate to those who may be interested that we came together as a parish during this search process and paid this debt just in time for our new Dean. The Search Committee would also be able to communicate that this frees up a significant amount of money in our budget that the new Dean would be able to help shape. The timing from that standpoint could not be better.
How Will We Do This?
The final question is, how do we make this happen? First, please know that every member of the Vestry has fully committed to participate. Further, the Vestry has already raised approximately half of the funds necessary to pay the debt off. In a way, that becomes a challenge to the parish to match what has already been raised to complete this work. A good benchmark for participation is for you to identify what your annual gift to Trinity is—whether through a pledge, passing the plate, a Christmas donation, or whatever the case might be—and then make a gift to the debt payoff fund of 25% of that annual amount.
Please understand, this gift is not in place of any amount you may already be giving; rather, it would be in addition to what you are generously offering for the church. The Vestry will gratefully accept whatever you may be able to give, even if it is less than the 25% benchmark. Every penny, or every mite, as the case may be, matters and is a blessing. The Vestry will also gratefully accept anything you may be able to give above that 25% benchmark. We know that not everyone will be able to participate, so if you can give a greater amount, then that will help us reach our goal.
Our goal is to have $350,000 committed to this fund, with as much of the money in the bank as possible, by Pentecost Sunday, June 8. We understand that some folks may need more time to contribute their share. We are hoping to have all of the money raised by September 1, the date currently targeted for Trinity’s profile to go public for a new Dean & Rector. In order to pay, you can simply send a check to Trinity with “debt” mentioned in the memo line. We have also created two links for this effort. You can pledge a certain amount at this link: bit.ly/TrinityDebtPledge. And you can pay toward this fund at this link: bit.ly/TrinityDebtGift.
Thank you!
Thank you so much for your willingness to thoughtfully consider what you may be able to give. As you reflect on this request, please keep in mind the passage from 2 Corinthians above and remember that God has provided abundantly for us so that we may share abundantly in every good work. Many thanks and blessings.