Attending The McKnight Group’s free i3 webinars is an excellent way to learn about the church design and building process. Plus, you get an opportunity to have your questions answered by our church building experts. In a recent webinar that focused on financing projects during challenging times, attendees posed some great questions. In this article, we will share the answers and insights provided during the webinar.
Question: Is Selling Church Bonds a Good Alternate Way to Finance?
Church bonds were a popular financing option in the 1980s, when interest rates were especially high. They operate somewhat like a self-funding mechanism, with churches selling bonds to private individuals or their own congregation members. The downside in the past was that sometimes there were problems repaying these investors.
To address this challenge, churches needed to run campaigns to raise funds for bond repayments separately, and this was confusing to those supporters who thought their purchase was funding the church. Another option is to simply sell bonds outside of the church. Today, with interest rates fluctuating, church bonds might make a return, but it’s essential to understand the potential complications.
Instead of selling bonds, some churches are turning to crowdfunding as a modern alternative. Crowd source funding allows a church to privately raise funds in the same way bonds do, but without all the complexities.
Question: What’s the Best Way to Motivate Attendees to Contribute, in a Challenging Economy?
Motivating your congregation to contribute to a building project during challenging economic times can indeed be daunting. However, it’s important to recognize that the key to success is not solely the building itself or how nice it will be. The true motivator lies in rallying your church community behind a shared vision.
The most effective way to motivate your congregation is to emphasize the mission and vision that God has called your church to fulfill. When you can communicate a compelling vision for ministry—one that excites and resonates with your congregation—you create a sense of purpose and unity to reach the community.
While bricks and mortar may be exciting, it’s essential to remember that the excitement fades when it comes time to cover the costs. Capital campaigns, while important, have a limited timeframe, and sustaining financial support over the long term is equally vital. To achieve this, consistently keep your church’s vision at the forefront of your communications, while involving your congregation in activities related to that vision.
Answering your questions is just one benefit of attending The McKnight Group’s i3 webinars. They are a valuable resource for church leaders seeking guidance on church design and church building, whether times are challenging or not. We invite you to sign up and attend any or all here!