Informational Update Vol. 3

September 15, 2004

This is the third in an ongoing effort to inform parents and parishioners of the progress of our Major Gift Effort for the purchase and expansion of the Snoqualmie Campus. This installment will give a cost summary of the project as well as further explain our Major Gift Effort Goals.

Project Summary

The Snoqualmie Campus purchase and expansion project is currently a two-phase project with a Major Gift Effort Goal of $800,000:

The purchase phase, which needs to occur by December 31, involves raising in cash the first $300,000 of our total $800,000 Major Gift Effort Goal. The $300,000 will be used as a down payment on the facility and the school will then pay a monthly mortgage instead of lease payments on a $1,200,000 loan that will be held by the current owners of the property.

The remaining $500,000 of the overall $800,000 Major Gift Effort Goal will be used as the down payment on the Phase I expansion of the campus. Our expansion is two phases; the first phase includes the enlargement of two classrooms, the addition of four classrooms, seating and storage in the gymnasium, and a large multi-purpose room attached to the kitchen.

Our project completion goal in 2009 is the addition of the last four classrooms.  Funding for Phase II of the expansion (the addition of the last four classrooms) will be determined after the completion of Phase I. The decision to proceed with Phase II will be made by the Pastoral Council and Parish Finance Committee.

Pledges vs. Cash

Our Major Gift Effort is asking families to make a 2 –3 year pledge of cash towards the success of this project. As you can see, while making the commitment in a pledge is very important, the receipt of payment by the school is what will ensure the success of the project. The project’s total pledges as of August 17, 2004 were $430,288. The project still needs $213,435 in cash by December 31, 2004 to make the purchase of the campus.

If you can afford to gift the school in one lump sum, it is certainly appreciated. Commitments can be made in the form of monthly, quarterly, semi-annual or annual payments over two to three years either with an initial down payment or without. A down payment provides immediate cash to be applied toward the $300,000 due on or before December 31, 2004.  Gifts can also be made in the form of stock, checks or credit cards. Also, if your company matches, please turn a matching form with your letter of intent to maximize the gift to the school. The school receives the matching funds upon the completed payment of the donor.

How to Make a Gift

In the next few weeks, all school families who have not yet had the opportunity to make a pledge to this Snoqualmie purchase and expansion project will be contacted by the Focus On Our Future Committee. The success of this project depends on 100% of our school families enthusiastically participating with pledges of support to this project and the additional support of parishioners from St. Joseph and Mary, Queen of Peace who believe in the mission of Catholic education.

Families may participate at any time by filling out a pledge sheet available at the parish offices or school office or by calling Jennifer Ballsmith at (425) 396-4251. If you would like more information or have further questions on the project, a member of the Focus on Our Future Committee would be happy to meet with you at any time to further discuss the details of the project

While we are off to a great start, there is still much work left to achieving our goals.  Our parishes need your help to secure the future of our school in the coming years. As members of our parish and school communities, it is up to all of us to support this major gift effort for the current children and generations to come.

On-going Project Information

Starting next week, your Thursday newsletter and the Parish bulletin will have weekly updates towards our Major Gift Effort Goals. Also, look in the hallways at the school and church for updates and progress on our project.