STEWARDSHIP AND FINANCE

Don’t store up treasures here on earth where

they can erode away or may be stolen.

Store them in heaven where they will never lose their value.

Matthew 6:19 – 20

Every year we ask our members and friends to reflect on what the church means to them and to consider their financial contribution to God’s work — earmarking a percentage of income and a gift of their time and talents for the church as an appropriate expression of appreciation for all of God’s gifts.

We have a large number of households of varying incomes who help in planning our yearly church budget. For information on pledges or stewardship to FPC, please contact the church office.

The Stewardship & Finance Ministry is the committee of the Session tasked to take the lead in carrying out this responsibility.  They work closely with the various committee ministries in helping to prayerfully reach their financial needs and goals and communicate effectively to the congregation regarding the stewardship needs of the church.

Everything You Want to Know

and Were Afraid to Ask

By George Barker

Please Pay Per Capita

        Each year Fairfax Presbyterian Church receives a bill for the administrative costs of National Capital Presbytery, the Synod of the Mid-Atlantic, and the General Assembly of the Presbyterian Church, our local, regional, and national bodies. The bill is a per capita assessment. The assessment did not increase this year and remains $29 per member. We are sending the final payment on our 2006 assessment. If you have not paid your per capita assessment, we ask that you do so now.

Mortgage Is Being Quickly Reduced

        The principal on our mortgage has been reduced substantially. In 2003, the church signed a 20 year mortgage, with the mortgage to be refinanced at five year intervals beginning in 2008. Three things have helped us reduce the principal on the mortgage. First, we have paid an additional $1,000 every month. Second, some members have contributed designated gifts for mortgage principal reduction. Lastly, we have used a significant portion of available unspent funds in 2004 and 2005 to pay down the principal.

        These actions have substantially reduced both our principal and the amount of interest we pay each month. Just the designated gifts and the payments above the $1,000 per month have helped reduce the principal by more than $50,000 below what it would be if we had paid only the extra $1,000 per month. The interest payment this year is more than $5,000 less than it was two years ago, and now is less than the basic principal reduction each month. Even if we received no additional designated gifts and made no payments beyond the extra $1,000 per month, we would pay off the mortgage within 10 years, which is seven years early. If we continue to get designated gifts and make additional principal payments, the mortgage could be paid in substantially less than 10 years.

        Paying off the mortgage early will provide substantial benefits to Fairfax Presbyterian. We will have funds available for our ministry and mission earlier. We will not pay as much interest, for which we do not receive the tax benefits that homeowners get. We will have less risk of future high interest, although we are all but certain to have an increase in interest when we refinance in 2008.

        We thank all who have made this progress on our mortgage reduction possible.

Financial Review Team Needed

        The Stewardship and Finance Ministry wishes to establish a small financial review group to help provide oversight and technical assistance on financial matters for the church. The group would meet only as needed.

        Anyone who is interested should contact Henry Brinton or one of the Stewardship and Finance Co-Chairs, Bob Pacholski and George Barker. Accounting or financial experience would be an asset.

Remember FPC

        This spring the Stewardship and Finance Ministry is trying to increase awareness of planned giving options, including remembering Fairfax Presbyterian in your will. We at FPC give weekly to support our operations and missions. Many do this despite limited income and other major financial commitments, including mortgages, rent and college tuition. We, however, have not been as generous, or at least not as thoughtful, with what we have accumulated over a lifetime. Compared with many churches, the Fairfax Presbyterian endowment funds are small for our size and affluence.

        A goal has been established to build our general endowment fund to $1,000,000. That would generate significant annual income that would be used to enhance what we do as a church.

     If you have questions about planned giving or making a bequest in your will, please talk with Henry or with one of the Stewardship and Finance elders, Bob Pacholski and George Barker.

        As you make or update your will, think about your relationship with God and with Fairfax Presbyterian Church. Our faith teaches us that we receive what we have as a gift from God. What do we leave for God’s work when we are longer here?

Information on Fairfax Presbyterian Trustee Funds can be found here.

Information on giving to Fairfax Presbyterian by E-scrip can be found here.

Bring the whole tithe into the storehouse...and see if I will not throw open the floodgates of heaven and pour out so much blessing that you will not have room enough for it."

Malachi 3:10